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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. Earlier post.).

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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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PNNL study finds 2028 grid resource adequacy likely sufficient for high EV penetration; managed charging strategies can double adequacy

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A new study of the impact of high EV adoption on the Western US power grid by a team from Pacific Northwest National Laboratory (PNNL) has found that 2028 grid resource adequacy—from generation through transmission—is likely to be sufficient for high EV penetration.

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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 amount of additional energy can power roughly more than 14,000 homes.

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China’s battery storage capacity growth likely to slow in 2024 – ET Auto

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CNESA forecast improvements in the economics of battery energy storage in China this year, without providing specifics. Growth in China’s battery storage capacity could slow down in 2024, according to an industry association, as energy storage struggles with low profitability.

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