Could zinc batteries usurp lithium-ion’s strong market position and become the storage technology of choice? The potential certainly exists and Enzinc CEO Michael Burz is on a mission to make it happen.
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Technology company ABB, which reported revenues of $26.1 billion in 2020, has focussed its energy storage investment strategy on research and development as it seeks to capitalise on a rapidly expanding global storage market that will be valued at almost $20 billion by 2027.
With $12bn of assets and a 4.5GW portfolio of solar and battery projects, Arevon Energy is well-placed to make a major impact in energy storage.
It is four weeks since a Tesla Megapack caught fire during testing at one of the world’s largest battery storage projects. On 30th July, a 13-tonne lithium-ion battery at Neoen’s 300MW Victorian Big Battery complex in southeast Australia – which has not yet been switched on – erupted into a four-day blaze.
Consumers Energy, Michigan’s largest energy provider, has become a relatively recent convert to energy storage but wants to establish itself as a pioneer.
India’s battery storage market has been dubbed “a sleeping giant”. That’s the view of the Institute for Energy Economics & Financial Analysis (IEEFA), which has highlighted the significant potential for developing a massive amount of storage capacity in the country.
Has the energy storage market just experienced a watershed moment? Yes, say some market observers, who argue that Form Energy’s recent unveiling of its secretive battery technology could transform the energy storage market forevermore.
BY KATHERINE DAMIAN AND BEN COOK:
China has announced its intention to bet big on energy storage.
The country’s National Development & Reform Commission has set a target of installing 30GW of new energy storage capacity by 2025.