Infinity Power, a joint venture between Netherlands-headquartered Infinity Group and UAE-based Masdar, announced on Monday that it has signed a Memorandum of Understanding (MOU) with Sierra Leone to develop 1-gigawatt (GW) of renewable energy capacity in the West African country in phases by 2033. Infinity Power said in a statement that it will collaborate closely … Continue reading Infinity Power to develop 1 GW photovoltaic, wind energy, hydro, battery storage in Sierra Leone by 2033
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Energy storage: global capacity to increase by 1 TW by 2033
Global energy storage capacity – excluding pumped hydropower – will increase by almost 1 TW between 2024 and 2033, representing an increase of 636%. Tax incentives and hybrid auctions will accelerate the expansion of the technology around the world. According to consulting firm Wood Mackenzie in its latest report, this makes this technology one of … Continue reading Energy storage: global capacity to increase by 1 TW by 2033
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China building two-thirds of world’s wind energy and photovoltaic solar projects
Country on track reach 1,200GW of installed wind power and photovoltaic capacity by end of 2024 – six years ahead of Beijing’s target. Between March 2023 and March 2024, China installed more solar than it had in the previous three years combined, and more than the rest of the world combined for 2023, the GEM … Continue reading China building two-thirds of world’s wind energy and photovoltaic solar projects
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Photovoltaic (PV) and wind power uptake to reach 5.4 TWac from 2024 to 2033
Global photovoltaic deployment to add 3.8 TWac of new project capacity by 2033 compared to 1.6 TW of wind power, while 640% growth is forecast for energy storage, From 2024 to 2033, developers will bring more than 5.4 terawatts (TWac) of new solar and wind capacity online, increasing the cumulative global total to 8 TWac, … Continue reading Photovoltaic (PV) and wind power uptake to reach 5.4 TWac from 2024 to 2033
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Batteries the key as photovoltaic cell prices plunge and wind power and solar ramp up towards 50 pct share
Renewable generation should be around 50 per cent of supply on Australia’s main grid by July, 2026, although it might be a bit less depending on progress on the second stage of Golden Plains, which will be the country’s biggest wind farm – at least for a time – when complete. To get to 80 … Continue reading Batteries the key as photovoltaic cell prices plunge and wind power and solar ramp up towards 50 pct share
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China’s photovoltaic & storage exports achieve record growth with more than 40% surge
In 2023, China achieved record photovoltaic export volume growth across all subcomponents, driving manufacturing expansion in emerging markets. Following Wood Mackenzie’s recent presentation at the SNEC Solar PV Conference & Exhibition in Shanghai in June, we share our insights on the global reach of China’s solar and storage industry. Drawing on proprietary data, insights from … Continue reading China’s photovoltaic & storage exports achieve record growth with more than 40% surge
Continue readingEnergy Storage Industry Takes Significant Steps to Lead on Safety and Support Communities
The American Clean Power Association (ACP) today announced an important policy effort to promote the current best-in-class safety measures for energy storage technology systems. This includes policy recommendations for local and state governments to use and adopt such safety measures. Today, ACP published a model ordinance framework providing comprehensive guidance for state and local governments … Continue reading Energy Storage Industry Takes Significant Steps to Lead on Safety and Support Communities
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US Energy Storage Market Sets Q1 Capacity Installation Record
The U.S. energy storage market set a first-quarter record for capacity installed in Q1 2024, with 1,265 megawatts (MW) deployed across all segments. This marks the highest storage capacity ever installed in a first quarter in the U.S., representing an 84% increase from Q1 2023. According to Wood Mackenzie and the American Clean Power Association’s … Continue reading US Energy Storage Market Sets Q1 Capacity Installation Record
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Enel Green Power Australia secures project financing for Quorn Park Photovoltaic Hybrid Project
Enel Green Power Australia (EGPA), a joint venture company co-owned by Enel Green Power and Inpex Corporation, is pleased to announce that construction of the Quorn Park Hybrid Project will commence in quarter three this year, having secured project financing. With investment value of over $190 million, the project will consist of the construction and … Continue reading Enel Green Power Australia secures project financing for Quorn Park Photovoltaic Hybrid Project
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US energy storage market sets Q1 capacity installation record
The U.S. energy storage market set a first-quarter record for capacity installed in Q1 2024, with 1,265 megawatts (MW) deployed across all segments. This marks the highest storage capacity ever installed in a first quarter in the U.S., representing an 84% increase from Q1 2023. According to Wood Mackenzie and the American Clean Power Association’s … Continue reading US energy storage market sets Q1 capacity installation record
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Demand for photovoltaic solar power and energy storage is only going to increase. What’s the plan for meeting it?
Day 2 of the 2024 Solar and Energy Storage Summit and the conversation was still in full swing. David Banmiller was there once again to capture all the debate and discussion on the future of the solar energy sector. Electrification is at the heart of the energy transition. There’s been a sharp rise in grid … Continue reading Demand for photovoltaic solar power and energy storage is only going to increase. What’s the plan for meeting it?
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Ørsted invests in battery energy storage system co-located with Hornsea 3 Offshore Wind Farm
Ørsted has taken final investment decision on a battery energy storage system, which will provide stability to the UK energy supply and reduce price volatility. The Tesla battery energy storage system will be installed on the same site as the onshore converter station for Ørsted’s Hornsea 3 Offshore Wind Farm in Swardeston, near Norwich, Norfolk, … Continue reading Ørsted invests in battery energy storage system co-located with Hornsea 3 Offshore Wind Farm
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Batteries: frequently asked questions
An introduction to batteries, from lithium-ion (Li-ion) and sodium-ion (Na-ion) technologies to battery raw materials including lithium, nickel, cobalt and manganese. Batteries are critical to the energy transition. They power new electric vehicles (EVs) and provide energy support for grids with an increasing share of intermittent supply from renewables. So, what are batteries made of? … Continue reading Batteries: frequently asked questions
Continue readingChina’s renewable energy exports grow 35% between 2019-2023
Power batteries surpass photovoltaic solar modules as the main export of renewable products. Chinese exports of renewable products grew 35% between 2019 and 2023, driven by competitive prices and dominance of production capacity, according to Wood Mackenzie’s new “Looking Abroad” report. Power batteries overtook solar PV modules to become China’s top renewable energy export product … Continue reading China’s renewable energy exports grow 35% between 2019-2023
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RWE to build Australia’s first eight-hour battery for photovoltaics
The investment decision has been made for the 50+ megawatt/400 megawatt hour Limondale battery energy storage system adjacent to RWE’s Limondale solar PV farm. Tesla will supply its Megapack batteries for the project, with commissioning scheduled for late 2025. RWE will increase its global battery storage portfolio to 6 gigawatts by 2030. Leading global renewables … Continue reading RWE to build Australia’s first eight-hour battery for photovoltaics
Continue readingBattery storage begins to play a key role for US grids
California and Texas increasingly rely on storage to balance the grid. Other states will follow. Wind power and photovoltaics require storage to ensure supply “The future is already here — it’s just not very evenly distributed.” That observation, from the great science fiction writer William Gibson, often provides a useful framework for thinking about technological … Continue reading Battery storage begins to play a key role for US grids
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The US puts up the barriers to Chinese photovoltaic products
EVs, solar modules and batteries are among the imports targeted by steep new tariffs, The Roman Emperor Caligula is said to have arrayed his army to fight the English Channel, and then declared victory over the sea. One explanation for this puzzling event is that he was simply insane. Another is that he understood the … Continue reading The US puts up the barriers to Chinese photovoltaic products
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ACP Statement on Clean Energy Manufacturing Policy Announcements
The American Clean Power Association (ACP) released the following statement from ACP CEO Jason Grumet after the U.S. Treasury released new guidance on the domestic content bonus credit for qualifying wind, solar, and energy storage technologies: “The domestic manufacturing incentives in the Inflation Reduction Act are essential to strengthen America’s clean energy supply chain. We commend … Continue reading ACP Statement on Clean Energy Manufacturing Policy Announcements
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ACP Statement on 301 Tariffs for Battery Storage
The American Clean Power Association (ACP) released the following statement today from ACP CEO Jason Grumet after the Biden Administration’s decision on Section 301 tariffs related to lithium-ion batteries for energy storage: “Today’s decision recognizes the value of battery energy storage and its importance to the reliability of our electric grid. As energy demand grows, battery … Continue reading ACP Statement on 301 Tariffs for Battery Storage
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Analysis of clean technologies: solar photovoltaic, wind energy, batteries, electrolyzers and heat pumps
For every nation, clean technology manufacturing can bring economic security, employment, and resilience to clean energy transitions, says the IEA. The sector is now so significant that it’s also impacting overall GDP performance: in 2023, clean technology manufacturing alone accounted for around 4% of global GDP growth and nearly 10% of global investment growth. Here, … Continue reading Analysis of clean technologies: solar photovoltaic, wind energy, batteries, electrolyzers and heat pumps
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