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What is energy storage?

Setec Powerr

Growing demand for renewable energy, an aging electrical grid, costly grid infrastructure improvements, and increasing extreme weather events will require increased energy flexibility to help the grid balance intermittent supply with responsive demand. In addition, these systems offer a wide range of benefits to energy users.

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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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ŠKODA collaborates with IBG ?esko on second-life battery energy storage system; up to 328 kWh

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ŠKODA AUTO, a subsidiary of the Volkswagen Group, is introducing a smart energy storage system using second-life batteries from electric vehicles. Following a successful pilot project in Prague, the energy storage units are now available to ŠKODA contract dealers. In partnership with the Czech technology company IBG ?esko,

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Wärtsilä installs first hybrid energy storage solution on LNG-fueled offshore supply ship

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The technology group Wärtsilä has completed the installation of a hybrid energy system on board Viking Princess. The Norwegian vessel is now the first offshore supply vessel in which batteries reduce the number of generators aboard the ship. Earlier post.)

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Wärtsilä hybrid propulsion system with methanol engine to power four SAL heavy lift vessels; wind farm installations

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The technology group Wärtsilä will supply its hybrid propulsion system for four new heavy lift vessels being built at the Wuhu Shipyard in China. They will also be the first methanol capable ships to employ a variable speed main engine in a hybrid installation. These ships represent the next generation in heavy lift shipping.

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BYD supplying Li-ion batteries for stationary energy storage to Green Charge

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BYD is now supplying Li-ion batteries to Green Charge, an ENGIE Company. Green Charge’s first installation of BYD batteries will be for the recently announced six-megawatt-hour system adjacent to ENGIE’s Mt. To date, BYD has installed more than 550 MWh of energy storage systems worldwide.

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BNEF: energy storage is a $1.2-trillion investment opportunity to 2040

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The falling cost of batteries is set to drive a boom in the installation of energy storage systems around the world in the years from now to 2040, according to the latest annual forecast from research company Bloomberg NEF (BNEF). The global energy storage market will grow to a cumulative 942GW/2,857GWh by 2040, attracting $1.2