The holy grail of energy storage has always been low-cost and long-duration. Form Energy intends on deploying a 1 MW/150 MWh system with a Minnesota utility before 2023, an unprecedented energy storage duration if successful.
Even though the U.S. market is showing some signs of stabilizing, the decline in installation rates in April alone was 33%.
Also in the brief: Chinese EV startup Nio has secured a $1 billion investment, Kore Power has entered into a strategic partnership with ELM FieldSight, Nautilus Solar Energy has closed on a $90 million debt financing agreement and more.
Also in the brief: Tesla’s Q Con virtual power plant presentation, the University of Arkansas’ solar design contest, M&A during the pandemic, dodecahedrons and more
The funding was led by an existing investor of FreeWire, BP, and will allow the company to commercialize its upcoming Boost EV Charger, as well as expand operations across the United States and into Europe.
The world’s biggest battery is now rated at 150 MW/193.5 MWh and dwarfs any lithium-ion battery system in operation worldwide.
Solar lags, at least in part, because the major components of panels — glass and silicon — while highly recyclable, are not as valuable as the lithium, cobalt and nickel in batteries.
Wood Mackenzie has dropped the 2020 outlook down to 430 MW, still a more than 100% increase over 2019, amid concerns over the role of sales and commissioning and interconnection in a period of shelter-in-place ordinances.
Tesla’s Nevada operation is still open for business. The EV and battery maker assures the market that its cash position is strong enough to weather an “extended period of uncertainty.”
Analyst Wood Mackenzie expects solar demand to decline but predicts the market will recover, with the prospects for the energy transition remaining intact.
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