Energy Storage in the News

November 04, 2021

US installed cost of solar, energy storage falling fastest in utility-scale segment, says NREL

The installed cost of solar PV, solar-plus-storage and standalone battery energy storage in the US was reduced across all market segments between 2020 and 2021, with the biggest drop seen in the utility-scale segment. 

The US National Renewable Energy Laboratory (NREL) has just released the latest edition of its annual benchmarking exercise for the cost of solar PV and energy storage in the country. It compares the installed cost of the technologies from Q1 2020 to Q1 2021, using a bottom-up method that accounts for all system and project development costs.

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Energy Storage in the News

November 03, 2021

Unlocking the Transition: As Tesla, Ford and others invest billions in EVs, will the power system be ready?

The new White House zero emission vehicle target of 50% of new car sales by 2030 has a long way to go, a short time to get there, and big challenges along the way.

Transitioning transportation, the nation’s biggest source of carbon emissions, to clean electricity is urgent, but will not be easy, according to charging companies, auto industry analysts and others.

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Energy Storage in the News

November 03, 2021

Fluence’s IPO closes with almost a billion dollars raised

Fluence’s initial public offering (IPO) raised just under a billion dollars, with all available shares of the energy storage company’s Class A common stock snapped up as they listed on the Nasdaq Global Select Market. 

In total, proceeds of US$998,200,000 were generated. This is because although the 31 million shares sold to the public at US$28 each raised US$868 million, underwriters decided to immediately exercise their options to purchase an additional 4.65 million shares in full. 

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Energy Storage in the News

October 28, 2021

Wave of investment just the beginning for EV battery recycling

Within the last month, four lithium-ion battery recyclers saw a collective $255 million worth of investment and another one completed a merger.

The lithium-ion battery industry is staring down a huge increase in demand, spurred by explosive growth in electric vehicle manufacturing. In the United States, where just 1% of the raw and component materials for EV batteries are currently produced, recyclers believe they can meet the moment.

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Energy Storage in the News

October 28, 2021

Wave of investment just the beginning for EV battery recycling

Within the last month, four lithium-ion battery recyclers saw a collective $255 million worth of investment and another one completed a merger.

The lithium-ion battery industry is staring down a huge increase in demand, spurred by explosive growth in electric vehicle manufacturing. In the United States, where just 1% of the raw and component materials for EV batteries are currently produced, recyclers believe they can meet the moment.

Energy Storage in the News

October 21, 2021

Hawaiian Electric wants all solar in next procurement round to be paired with battery storage

Hawaiian Electric is launching its newest “all-source” renewable energy procurement for capacity and grid services on the eastern side of Hawaii Island.

The US island state’s biggest utility company has just filed a draft of its Request for Proposals (RfP) and intends to launch the RfP by the end of February 2022 after it has drawn comment from the community, interested parties and prospective participants and Hawaii’s regulatory Public Utilities Commission (PUC).

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Energy Storage in the News

October 20, 2021

Governor Hochul Announces Agreements for Solar and Energy Storage Systems at 47 New York City Public Schools, Water Treatment Facilities

Governor Kathy Hochul today announced the signing of power purchase agreements (PPAs) that will advance plans to place solar arrays on 47 public schools and several water treatment facilities in New York City and pave the way to a construction start in early 2022. The joint project between the New York Power Authority (NYPA) and the New York City Department of Citywide Administrative Services (DCAS) will generate more than 25 megawatts (MW) of power from rooftop solar arrays and include up to 6.6 MW of energy storage. The portfolio will advance New York State’s clean energy targets as outlined in the 2019 Climate Leadership and Community Protection Act (Climate Act) and help achieve more than 25 percent of New York City’s goal of implementing 100 MW of solar PV systems on City-owned properties by 2025 as part of its commitment to reduce citywide emissions 80 percent by 2050. 

Energy Storage in the News

October 20, 2021

Puerto Rico Electric Power Authority readying renewables and energy storage Request for Proposals

Puerto Rico Electric Power Authority (PREPA) has sought approval for the launch of its next Request for Proposals (RfP) for renewable energy and energy storage resources. 

It’s the second tranche of RfPs that PREPA intends to issue this year, after Tranche 1 was issued in February, seeking 1GW of renewables capacity and 500MW / 2,000MWh of energy storage. Tranche 2 would cover the procurement of at least 500MW of renewable generation capacity and at least 250MW of energy storage capacity with four-hours duration (1,000MWh). 

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Energy Storage in the News

October 19, 2021

Energy Vault asks investors to bet on pre-commercial gravity storage tech ahead of NYSE listing

Special purpose acquisition company (SPAC) Novus Capital Corporation II chose to merge with novel gravity and kinetic energy-based storage company Energy Vault after receiving target proposals from more than 100 different firms. 

Energy Vault has been valued at more than US$1.1 billion and the merger would list the combined business — effectively continuing to trade as Energy Vault — on the New York Stock Exchange, Energy-Storage.news reported in September as the proposed deal was announced

Energy Storage in the News

October 19, 2021

Clean energy storage firm Fluence targets $4 billion valuation in U.S. IPO

Renewable energy storage firm Fluence Energy Inc said on Tuesday it is aiming to fetch a nearly $4 billion valuation in its U.S. initial public offering, as investor interest in such technologies soars alongside growing calls to limit climate change.

The company, a joint venture between Germany’s Siemens AG (SIEGn.DE) and U.S.-based AES Corp (AES.N), says it is looking to offer 31 million shares priced between $21 and $24 apiece. At the top end of that range, the IPO would fetch $744 million in proceeds.

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