Falling technology cost and supportive policies are seen pushing up the American grow from currently $400 million to top $4 billion by 2024. According to Global Market Insights, power storage could become a “market disruptor”, having nearly doubled in 2018 by adding yet another 1,000 MWh of capacity.
By 2024, China’s market for flow vanadium energy storage is likely to exceed $3 billion. The new technology is based on domestic resource and offers virtually unlimited storage capacity, long duration, and rapid response time. A 200MW/800MWh vanadium flow battery is under development in Dalian, with the batteries made in a nearby factory of Rongke Power.
Nov 28 – Tokyo-based Toshiba will reinforce its green energy footprint by spending 100 billion yen ($175m) on a new biomass power plant near the thermal Mikawa power station in Omuta, Fukuoka prefecture. Going forward, Toshiba aims to aggregate all its renewable energy sources and storage batteries, creating a Virtual Power Plant (VPP).
Energy storage will play a growing role in the British power mix as the Brexit process is at a critical stage and the country seeks to reduce reliance on importing electricity through from mainland Europe. “Interconnectors are direct competitors in the flexibility marketplace,“ Wood Mackenzie said, suggesting Brexit could be good news for the UK storage market.
Nov 21 – Rebuking warnings of gas supply shortages, the UK government said it will not give any regulatory support for new gas storage facilities. Insisting that “the benefits of more insurance are not worthwhile,” energy secretary Greg Clarke said, insisting the market was already providing sufficient gas security and optionality.
Closure of the large Rough storage has left the UK in a “precarious position” and “vulnerable” to gas supply shortages, Wood Mackenzie finds. Spot LNG cargoes can help cover demand at a short notice – but it would be imprudent to rely on flexible gas imports through the Interconnector, particularly as UK gas demand is bound to increase due to the government’s coal phase-out policy.
Dynamics of the global energy transition are driven by the speed of electrification and the competition between flexible gas power plants and renewables plus energy storage. Margins in the downstream power market are becoming more attractive, as price discrimination allows for better value capture downstream than in the generation business.
Risk of gas supply shortages this winter keeps growing in the U.S. because inventories are at record lows due to a late start of the gas storage refill season and high withdrawals. According to EIA’s Short-Term Energy Outlook (STEO) gas inventories will reach 3,263 billion cubic feet (Bcf) at the end of October – the lowest end-of-October level since 2005.
UK Power Reserve (UKPR) has awarded the second phase of its battery-based energy storage contracts to Fluence, a Siemens and AES company. The 120-MW project is underpinned by capacity contracts secured in 2016, and UKPR is now tapping Fluence technology to enhance grid flexibility with all new storage projects scheduled to be in operation by winter 2020.
ENGIE and Holyoke Gas & Electric have started operations at a 3 MW/6 MWh power storage system connected to a solar farm near Boston. Massachusetts has been one of the first U.S. states to enact an energy storage target, which helped renewables plus energy storage installations to spread and become increasingly cost competitive with fossil-fuelled power plants.
Wärtsilä has delivered and commissioned its first engine plus storage hybrid installation worldwide for Sinergy Kft, a subsidiary of ALTEO Group, in Budapest. Sinergy’s existing engine-driven plant is now optimized with a power storage solution that also incorporates GEMS, an energy management system from Greensmith Energy.
Researchers at MIT have developed a new type of battery, based on electrodes made of sodium and nickel chloride and using a new type of metal mesh membrane. Costs of the battery are significantly lower than traditional lithium-ion counterparts, researchers say, pointing out the stronger and more flexible material can better withstand the rigors of use in industrial-scale energy storage systems.