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GlobalData: Global battery energy storage market to grow by 7% to reach $13.13B by 2023

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The global battery energy storage market will to grow to $13.13 Asia-Pacific (APAC) and EMEA will be the dominant markets for battery energy storage systems over the forecast period 2019-2023. The US market for battery energy storage is estimated to reach $2.96bn in 2023, accounting for 23% of the global market.

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ABB and BYD enter strategic global collaboration on energy storage

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Global power and automation technology group ABB and BYD Co., announced today a strategic global collaboration to develop new solutions for energy storage, building on their complementary strengths. The scope of the collaboration focuses on the following applications: Grid-connected energy storage.

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Siemens and AES to form global energy storage technology joint venture: Fluence

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Siemens AG and The AES Corporation are forming a new global energy storage technology and services company under the name Fluence. The joint venture will bring together AES’ experience deploying energy storage in seven countries with Siemens’ energy technology leadership and its global sales presence in more than 160 countries.

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ENGIE New Ventures increases investment in 2nd-life battery company Connected Energy

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ENGIE New Ventures, the corporate venture fund of ENGIE, is participating in a new round of investment to further the development of Connected Energy. Based in the United Kingdom, Connected Energy uses end-of-life EV batteries to create energy storage systems. —Matthew Lumsden, CEO of Connected Energy.

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California roadmap for grid-connected energy storage technology

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The California Independent System Operator (ISO), the California Public Utilities Commission (CPUC) and the California Energy Commission (CEC) unveiled a comprehensive roadmap to assess the current market environment and regulatory policies for connecting new energy storage technology to the state’s power grid.

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ZF and CATL partner for aftermarket service in e-mobility and energy storage

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Limited (CATL) and ZF Group signed a global strategic partnership agreement to push forward cooperation in aftermarket services, including service network, battery-related training, connectivity, recycling and reuse, etc. Contemporary Amperex Technology Co.,

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IHS: late 2015 pipeline growth signals impending rise in global energy storage market

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Battery cost reductions, government funding programs and utility tenders led to a 45% increase in the global energy storage pipeline in the fourth quarter (Q4) of 2015 compared to the previous quarter. the global pipeline of planned battery and flywheel projects had reached 1.6 According to IHS Inc.,