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BNEF forecasts global energy storage market to grow 15-fold by 2030 to 411 GW/1194 GWh

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Energy storage installations around the world are projected to reach a cumulative 411 GW (or 1,194 GWh) by the end of 2030, according to the latest forecast from research company BloombergNEF (BNEF). That is 15 times the 27GW/56GWh of storage that was online at the end of 2021.

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UCSD study: under current policies, home energy storage would often increase carbon emissions

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Under current policies, home energy storage systems would also often increase carbon emissions, according to a study by a team of researchers at the University of California San Diego published in the journal Environmental Science & Technology. —Ryan Hanna, postdoc at the School of Global Policy and Strategy.

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Pike Research forecasts worldwide grid energy storage spending to reach $22B by 2021, down from 2010 forecast of $35B

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In its new report Energy Storage on the Grid (ESG), Pike Research forecasts that global spending in the ESG market will reach a little over $22 billion over the next 10 years. This is a downward revision from the $35B the firm forecast for ESG spending through 2020 in a report published last August. Click to enlarge.

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Benchmark: lithium has to scale twenty times by 2050; generational challenge for automakers

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The world will need more than twenty times the amount of lithium than was mined last year to meet demand by mid-century, driven by growth in energy storage and electric vehicles, according to new analysis from Benchmark Mineral Intelligence. Annual production of 11.2 Near-term, a total of 2.9 —Simon Moore.

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Southern California Edison to buy 261 MW of energy storage projects; largest grid-connected storage purchase in US

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The new contracts result from a plan recommended by SCE in response to state forecasts of local reliability needs due to the closure of the San Onofre Nuclear Generating Station and anticipated retirement of older, natural gas generation plants along the Southern California coastline that rely on ocean water for their cooling needs.

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IBM introduces new wind and solar forecasting system for utilities; big data analytics and weather modeling to predict output

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The solution combines weather prediction and big data analytics to forecast accurately the availability of wind power and solar energy. This will enable utilities to integrate more renewable energy into the power grid, the company says. This project contributes to China’s 5-year plan to reduce its reliance on fossil fuels.

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These 10 U.S. states have the most battery storage capacity installed

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Installation of large-scale energy storage systems is expected to continue increasing in the U.S. According to data from the Energy Information Administration (EIA) shared on Tuesday, U.S. energy storage system deployment is expected to nearly double in 2024, with battery capacity forecasted to grow by 89 percent.