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IRENA report says tripling renewables investment required to reach 2050 climate goal

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Global renewable energy investment increased between 2013 and 2018, reaching its peak at US$351 billion in 2017, according to a new report by the International Renewable Energy Agency (IRENA) and Climate Policy Initiative (CPI). Renewable energy investment slightly declined in 2018, with modest growth through 2019.

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CoBank report finds that troubled US grid may need to use EVs for grid balancing

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Since its inception, the US electric grid has mostly operated smoothly as one synchronous machine with a one-directional flow of electricity to meet the nation’s predictable power needs. The US electric grid is experiencing something of a mid-life crisis. CoBank is a cooperative bank serving vital industries across rural America.

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Australia’s new giant Tesla Megapack battery project completes project financing

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Australian renewable energy Edify Energy has formally announced that its high-profile 150MW / 300MWh battery storage system has completed its financing. The project will be using Tesla Megapack batteries, and it will be located in New South Wales (NSW). The largest of its kind approved in the world.

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T&E: two-thirds of European battery production at risk as companies weigh investing in US instead

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More than two-thirds (68%) of lithium-ion battery production planned for Europe is at risk of being delayed, scaled down or cancelled, according to new analysis by the European NGO Transport & Environment. Battery production capacity equivalent to 18 million electric cars—1.2 Europe must act or risk losing it all.

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Benchmark: global battery industry needs to invest $514B to meet demand in 2030; $920B by 2035

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Globally, the battery industry needs to invest at least $514 billion across the whole supply chain to meet expected demand in 2030, and $920 billion by 2035, according to a new analysis by Benchmark. Demand for lithium ion batteries is forecast to grow to 3.7 However, batteries are the fastest-growing demand market for nickel.

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South 8 Technologies raises $12M in Series A to commercialize liquefied gas electrolytes for high-performance Lithium-ion batteries

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South 8 Technologies, a developer of electrolyte formulations for next-generation lithium batteries, has raised $12 million in Series A financing, led by Anzu Partners with participation from LG Technology Ventures, Shell Ventures, Foothill Ventures, and Taiyo Nippon Sanso Corporation (TNSC). —Cyrus Rustomji, Ph.D.,

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Volkswagen commissions fast-charging park with 570 kWh of second-life MEB cell modules

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The advantage is that fast-charging infrastructure can be built nearly anywhere, even if in places with a low-capacity grid connection. All cell modules in the PSC were formerly installed as batteries in pre-production models of the ID.3 —Karen Kutzner, managing director for finance and controlling at Volkswagen Sachsen.

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