Energy Storage News

MIT scientists have suggested used electric vehicle batteries could offer a more viable business case than purpose-built systems for the storage of grid scale solar power in California. Such ‘second life’ EV batteries, may cost only 60% of their original purchase price to deploy and can be effectively aggregated for industrial scale storage even if they have declined to 80% of their original capacity.

Canada’s Hydrostor has closed US$37 million in growth financing. The company plans to use the funding to complete construction of the 5 MW/10 MWh Angas Project in South Australia and to advance its 2 GW pipeline of large-scale advanced compressed air energy storage projects.

Plummeting costs, industry maturity, and the ever-increasing penetration of global renewables are expanding the use cases for battery storage technology. Over the past year and a half, storage projects are increasing significantly in both scope and capacity.