Sunrise brief: U.S. residential solar down 20% in 2024
Also on the rise: $1B in financing for 400 MW/1600 MWh solar-plus-storage project. Peak Energy secures $55 million Series A funding to manufacture sodium-ion batteries. And more.
Global energy storage fleet to surpass 1 TW/3 TWh by 2033
According to the latest forecast from Wood Mackenzie, the global energy storage market (excluding pumped hydro) is on track to reach 159 GW/358 GWh by the of 2024 and grow by more than 600% by 2033, with nearly 1 TW of new capacity expected to come online.
Global solar installations to nearly quadruple by 2033
Wood Mackenzie forecasts 4.7 TW of solar capacity to be built between 2024 and 2033, with China accounting for about 50% of the growth.
Battery storage deployment in Canada kicks into gear
The deployment of battery energy storage systems (BESS) in Canada is picking up the pace, with the announcement of a 705 MWh battery storage system delivery to Nova Scotia by Canadian Solar’s e-Storage and various other projects in provinces across the country. However, this surge cannot come quickly enough says Energy Storage Canada.
Sunrise brief: Bringing stability to renewable island grids
Also on the rise: Solar curtailment is not always bad. California city to deploy pop-up solar canopy with EV charging. And more.
In case you missed it: Five big solar stories in the news this week
pv magazine USA spotlights news of the past week including market trends, project updates, policy changes and more.
Sunrise brief: Nextracker acquires solar foundation specialist Ojjo for $119 million
Also on the rise: Arizona’s largest energy storage project closes $513 million in financing. Aiko presents ABC solar module with world record efficiency of 25.2% at Intersolar. And more.
Arizona’s largest energy storage project closes $513 million in financing
The 1,200 MWh Papago Storage project will dispatch enough power to serve 244,000 homes for four hours a day with the e-Storage SolBank high-cycle lithium-ferro-phosphate battery energy storage solution.
U.S. grid-scale storage grows 84%, residential storage 48%
Wood Mackenzie reported large growth in Q1 year-over-year for grid-scale storage and residential storage, while commercial and industrial storage slowed.
Commercial real estate to host VPP-connected flywheels and batteries
U.S.-based technology provider Torus has agreed to supply nearly 26 MWh of energy storage for Gardner Group’s commercial real estate portfolio. The project will integrate battery and flywheel energy storage systems (BESS, FESS) with Torus’ proprietary energy management platform.
