Markets
Policymakers are increasingly recognizing the value of energy storage for building a greener, flexible, and reliable energy system. In a growing number of markets, energy policies are being introduced to support both deployment and local manufacturing.
Be it through procurement exercises or other market mechanisms, policymakers have intensified efforts to drive the development and deployment of all energy storage solutions.
However, in most markets, some barriers still exist.
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In Brazil, batteries will now be subject to up to a 20% import tax
Following a decision by the Brazilian government, the three primary import classifications for batteries and energy storage systems will see their import tax rates rise to 20%. This move, aimed at capital and informatics goods, replaces the previous rates that ranged between 16% and 18%.
SECI concludes 1.2 GW/4.8 GWh renewables-plus-storage tender at $0.07/kWh
The Solar Energy Corp. of India (SECI) has concluded its tender for the development of 1.2 GW of renewable energy projects coupled with energy storage systems (ESS), designed to provide 4.8 GWh of assured peak power supply daily (1,200 MW for four hours). The lowest discovered tariff under the auction was INR 6.27/kWh ($0.07/kWh).
German TSOs introduce maturity-based procedure for grid-scale battery storage connections
The new procedure replaces the previously applicable first-come, first-served principle for grid connections of large plants with a capacity of 100 MW or more. The initial information and application phase is scheduled to begin on April 1. Any pending grid connection requests will be transferred to the new procedure.
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Germany, UK, Ireland, Poland offer best renewables + BESS colocation potential
Market analytics provider Aurora Energy Research has examined the potential for colocation of renewables with battery energy storage systems (BESS) across 12 European countries. It found that Germany, Great Britain, the Ireland I-SEM, and Poland are leading the pack.
Austria offers €17.9 million to fund storage
The Austrian authorities have offered €17.9 million ($19 million) to fund medium-sized electricity storage systems, with €10 million from the climate action protection ministry and €7.9 million from the European Agricultural Fund for Rural Development (EAFRD).
Bulgaria backed by EIB for 1.6 GW of pumped storage
The European Investment Bank (EIB) will conduct economic and technological feasibility studies on two Bulgarian pumped storage hydropower plants due to be operational by 2032. The projects will each add generation capacity of around 800 MW and will both come with a price tag of around €900 ($964) million.
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European battery market growth to drop off amid falling electricity prices
The latest analysis from SolarPower Europe reveals that, in 2023, Europe installed 17.2 GWh of new battery energy storage systems (BESS), up from up from 8.8 GW in 2022. While this marks the third consecutive year of doubling the annual market, much slower growth is expected in the years to come.
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1.4 GW Xiamen pumped storage project connected to the grid
The No. 4 unit of the State Grid Fujian Xiamen Pumped Storage Power Station has successfully passed project acceptance, marking the full commissioning of the power station. The project was designed by the East China Survey and Design Institute and built by the China Hydropower No. 14 Engineering Corporation.
Entergy, NextEra Energy Resources join forces on 4.5 GW of solar and storage
In the U.S., energy utility company Entergy and the energy provider Nextera Energy Resources have announced a joint development agreement, which the two companies say will accelerate the development of up to 4.5 GW of new solar generation and energy storage projects.
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