pv magazine USA’s Post

Interesting take from Energy and Capital about where we'll increasingly see #vanadium batteries: in the fastest growing segment of the rechargeable battery market — commercial and industrial distributed power storage.  Those giant battery banks that come as part of every #solar and wind power generation facility, which are playing a rapidly-expanding role in supporting our national power grid, are the perfect application for this technology.  Vanadium Batteries Are The Diesel Engines Of The Rechargeable #EnergyStorage Market. Vanadium batteries, despite a higher initial cost to get things started, deliver more than 4x the energy over the course of the battery’s standard service life.... Vanadium batteries have 1 major advantage — they last for decades. I’m talking about tens of thousands of charge/recharge cycles which allows these batteries to function without performance decline for up to 25 years. https://lnkd.in/gA8JZ_wd

In case you missed the recent news from BloombergNEF: it’s worth keeping an eye on the stationary #energystorage market, which has boomed the last two years. BloombergNEF team of analysts who follow the space are expecting this to continue, with energy storage installations rising 61% this year. Prices for turnkey energy storage systems are down 43% from a year ago, and that’s leading to a big increase in deployments. As with many of these topics, the most interesting data is coming out of China, where energy storage applications overtook consumer electronics as the second-largest application for battery production last year. #vanadium #batteries #queensland #investmentopportunity #vfb https://lnkd.in/ggS4zuSA

We're in the middle of a 'a year-long acceleration in the decline of battery cell prices, a trend that is reminiscent of recent solar cell price reductions.' In the 12 months beginning last summer, cell prices are expected to drop by a figure of of between 50-60%! Reasons include chain improvements, decreasing inflation, and new lithium supplies coming online as well as a perception of 'stabilising demand as manufacturers struggle to make EVs profitable supply'. Both batteries and solar panels have seen their prices drop by about 90% since 2010, with both products currently experiencing accelerated price declines. Ultimately this of course means a much lower deployed system costs per kWh for grid-scale Battery #EnergyStorage Systems (BESS). https://ow.ly/CwP850QQWgQ #BESS #EnergyStorage #RenewableEnergy

We're in the middle of a 'a year-long acceleration in the decline of battery cell prices, a trend that is reminiscent of recent solar cell price reductions.' In the 12 months beginning last summer, cell prices are expected to drop by a figure of of between 50-60%! Reasons include chain improvements, decreasing inflation, and new lithium supplies coming online as well as a perception of 'stabilising demand as manufacturers struggle to make EVs profitable supply'. Both batteries and solar panels have seen their prices drop by about 90% since 2010, with both products currently experiencing accelerated price declines. Ultimately this of course means a much lower deployed system costs per kWh for grid-scale Battery #EnergyStorage Systems (BESS). https://ow.ly/CwP850QQWgQ #BESS #EnergyStorage #RenewableEnergy

KORE Power is one of the few industry suppliers well-positioned to leverage emerging trends in battery storage as detailed in this insightful article from ESS-News.com. Reflecting on our vertically integrated strategy, exemplified by both the Arizona based gigafactory, KOREPlex, and our history of eV and advanced energy storage solutions, aligns perfectly with the industry’s push towards greater efficiency and cost reduction. As we continue to innovate and expand our capabilities, we're excited about the future of clean energy and our role in driving this transformation from the shores of the U.S. To see for yourself, read more about the future of battery storage here: [In Conversation: How Cheap Can Battery Storage Get?](https://lnkd.in/ghsKTCb6). Eager to have a discussion on how you see the trends evolving. Drop a note here on your views.

We all know about the growth of wind and solar energy, but the rapid introduction, deployment, and improvement of batteries is also driving society's move away from fossil fuels. These six charts will show you why. https://lnkd.in/ef6p2YAj

The Car, House and the Grid: #Batteries are everywhere leveraging #RenewableEnergy such as #solar and #windenergy.

The sun is shining on the stationary storage market, according to BloombergNEF. The stationary storage market has risen 61%, and prices for turnkey systems are down 43% from 2023. The global stationary energy storage market almost tripled in 2023. Growth in the segment is "much faster than EV battery growth". https://ow.ly/3wsJ50T3JTn

First, the price of battery cells will drop to below 0.4 yuan. Represented by the 280Ah energy storage battery cells, the price is expected to be close to 0.4 yuan by the end of 2023. It is predicted that in 2024, the prices of battery cells from mainstream manufacturers will remain around 0.4 yuan, while some second or third-tier manufacturers will lower the prices to 0.35 yuan, or even sell at cost or at a loss. Second, extreme internal competition and overcapacity are the norm. The current planned battery cell capacity has exceeded 1500GWh, with over 500GWh of available capacity expected to be released in 2024. The situation of overcapacity is very prominent, leading to a severe lack of operating rates for battery cell companies and system integration enterprises. Third, the European residential energy storage market will rebound in the second or third quarter. In 2023, the growth rate of the European residential energy storage market fell far short of expectations, resulting in the entire year being spent digesting the inventory accumulated in 2022 due to high expectations. With the slow pace of inventory reduction, as the European market gradually reduces its inventory to a reasonable level, it is expected to reach a turning point in the second or third quarter of 2024. #solarenergystorage #solarpower #sustainability #solarenergy #inverter #EVchargingstation #jsdsolar #solarpowersystem #hybridsolar #offgridandongridsolarpowersystem #lithiumbattery #solarsystem #solarenergy #solarpv #solarindustry #solarproject #lithiumionbatteries #lithiumion #lithiumpower #lithium #inverter #inverterbattery #inverters #electronicvehicle #hybridsystem #offgridsolarsystem #ongridsolarsystem #bms