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Global |Publication |March 2019
A robust regulatory framework is needed for energy storage to reach its full potential in the European Union (EU). As part of the EU’s Clean Energy for All Europeans legislative package, the Electricity Market Design Directive (recast) will soon become law, mandating recognition by EU Member States of the role energy storage has to play in the region’s power markets. However, whether barriers to energy storage are reduced depends on how the directive will be implemented into national law.
In our article, we consider progress to date in the German, French, Greek and Dutch markets. The absence of a robust regulatory framework has been a key barrier to the adoption of energy storage on a large scale. For example, in a number of jurisdictions, stored electricity faces a double charge, levied on consumption by the storage facility, as well as on the end-consumer. Therefore, a level playing field for energy storage projects needs to be created.
Despite the challenges storage developers and operators are bringing forward developments and a number of initiatives are already stimulating national markets. For example, the Netherlands is proposing actions through the Climate Act and Climate Accord and Greece has a number of initiatives to facilitate energy self-sufficiency to non-interconnected islands.
The Electricity Market Design Directive (recast) signals an important step in the clean energy transition and may catalyse national legislative initiatives, providing impetus for regulatory change and acting as an incentive for project developers and financiers across Europe.
Global energy storage economics to be transformed by predicted 52 per cent cost reduction by 2030
A report from Bloomberg New Energy Finance (BNEF) suggests that the global energy storage market will grow to a cumulative 942GW/2,857GWh capacity by 2040, attracting US$620bn in investment. BNEF suggests that this is due to sharply decreasing battery costs, which will make the economic case for batteries in the vehicle and electricity sectors. It is predicted that China, the US, India, Japan, Germany, France, Australia, South Korea and the UK will dominate the market with two thirds of the share by 2040. Developing countries in Africa are also likely to see rapid growth in battery storage as utilities recognize the value of combining solar, storage and diesel in remote regions, thus providing a viable alternative to grid extensions and reliance on fossil fuels.
Amid global battery boom, 2019 marks new era for energy storage
SolarEdge acquires Kokam, a provider of lithium-ion cells, batteries and energy storage solutions
SolarEdge Technologies Inc, a photovoltaics company, acquired approximately 75 per cent of the outstanding equity shares of Kokam Co Ltd for US$88m. Headquartered in South Korea, Kokam is a provider of lithium-ion battery cells, batteries and energy storage solutions. Over time, SolarEdge intends to purchase the remaining outstanding equity shares of Kokam, eventually resulting in Kokam becoming a wholly-owned subsidiary of SolarEdge.
Freewire Technologies raises US$15m series A financing from BP Venture, Volvo Cars and Stanley Black and Decker
FreeWire Technologies, a provider of flexible power solutions, closed a US$15m Series A financing. The round was led by BP Ventures, with participation from Volvo Cars Tech Fund, Stanley Ventures, Blue Bear Capital, Oski Clean Energy Partners, Strawberry Creek Ventures, Spike Ventures, TRIREC and others. The financing will support the commercialization of FreeWire’s electric vehicle charging and mobile onsite power technologies.
Panasonic and Toyota announce joint venture on electric vehicle battery technology
Automotive manufacturer Toyota and electronics firm Panasonic have announced a joint venture (JV) in battery technology for electric vehicles, subject to regulatory approvals. The JV will be 51 per cent owned by Toyota and 49 per cent by Panasonic, however, in principle, Panasonic will be free to sell batteries to other automakers. The JV is set to cover research and development, production engineering, manufacturing, procurement and a host of other business activities related to lithium-ion, solid-state and next generation batteries.
Oil super major Shell acquires Sonnen for home battery expansion
Shell is set to acquire Sonnen, a German start-up responsible for the production of storage systems for private households and small businesses across Europe, the US and Australia. The acquisition will provide a platform for Shell to explore the potential of stationary energy storage, as well as an opportunity to be at the forefront of the development of new energy storage products.
South Africa solar and storage plant reaches milestone
Kathu Solar Park in South Africa generated its first power to the national grid in November 2018. The 100MW solar and molten salt storage plant has been constructed by SENER and ACCIONA Industrial and employs parabolic trough technology to generate electricity. It is estimated that the project will save approximately six million tonnes of CO2 over the next 20 years.
The Dubai Electricity and Water Authority has entered into a Memorandum of Agreement with the GCC Interconnection Authority and the Belgian Dredging, Environmental & Marine Engineering Group to explore the possibility of building a pumped hydro storage power station in the Arabian Gulf, with a storage capacity of approximately 400MW/2,500MWh. Water will be pumped from the Gulf using solar-powered turbines, meaning that there will be only one reservoir. Although the project is unprecedented in the region, it builds on the success of the 250MW pumped-storage hydroelectric power station in Hatta, which makes use of water stored in the pre-existing Hatta Dam.
Abu Dhabi opens region’s first grid scale battery deployment and the world’s largest virtual battery plant
The Abu Dhabi Department of Energy has opened the world’s largest virtual battery plant to date, with a capacity of 108MW distributed over ten sites across the emirate, which is the first in the region. The project is aimed at load balancing and will help to integrate renewable energy sources to meet growing demand.
VRB initiates phase one of China’s largest vanadium redox flow battery project
Canadian company VRB has been commissioned to begin phase one of their 40MWh flow battery project in China. The project represents the largest system using a vanadium redox flow battery for energy storage in a country that has rich natural vanadium resources. Hubei Pingfan Ruifeng New Energy Technology Ltd, the main investor in the project, believes that the combination of advanced storage technology and local resources will foster strong local economic development and begin to alleviate environmental problems.
ViZn Energy Systems and WeView Energy commit to strategic partnership in China
ViZn Energy Systems Inc (ViZn) has committed to a strategic alliance with WeView Energy to pursue the China utility-scale energy storage market. ViZn considers China to be one of the largest potential markets in the world for grid scale storage.
Harmony for Palau as ENGIE EPS launches the world’s largest microgrid
The Armonia (Harmony) project launched by Engie EPS in Palau will feature a 45MWh lithium-ion battery to support 35MWs of solar photovoltaic energy and existing diesel fueled generation. The project aims to provide substantial cost savings to Palau, which spends 12 per cent of its GDP on fuel and related imports. The project, billed as the world’s largest microgrid, has significant ramifications for Pacific Island countries like Palau which are at the forefront of greenhouse reduction initiatives.
Fluence begins big battery installation at South Australian wind farm
Project developer of the Lincoln Gap wind farm, Nexif Energy, has revealed plans to add a storage system to the 212MW energy grid in South Australia. Following a rigorous evaluation process, Fluence was chosen to supply a 10MW/10MWh battery system to integrate the output of the wind farm into the National Electricity Market. The deal was also praised for securing non-subsidized funding after the Clean Energy Finance Corporation backed the project with AU$150m debt financing.
Australia commences pilot project using renewable sources to produce hydrogen for long-term energy storage
Australia is set to trial producing hydrogen from solar and wind power via electrolysis for long-term energy storage. The Australian Renewable Energy Agency (ARENA) has committed over AU$7.5m in funding for Jemena, an Australian energy firm, to build a demonstration scale 500kW electrolyzer. Jemena’s project is set to demonstrate how existing gas pipeline technology can store excess renewable energy for weeks and months, potentially making the system more efficient than battery technology.
Funding boost for Australia’s first compressed air energy storage system
The Australian Renewable Energy Agency approved AU$6m of funding for the country’s first compress air storage project, adding to the AU$3m in funding received from the South Australian Government’s Renewable Energy Technology Fund. The 5MW/10MWh demonstration project will be developed by Hydrostar, a US-based developer of utility-scale energy storage facilities, which will convert the Angas Zinc Mine in South Australia into a below-ground air-storage cavern to provide load shifting, frequency regulation and grid security.
Neoen’s 6MWh France battery system is preparation for new breed of storage arriving in Europe
Neoen has begun construction of the largest single grid-connected energy storage system in mainland France, a 6MW/6MWh frequency balancing unit in the Azur municipality. The project, coordinated with local transmission and distribution system operators RTE and Enedis, is expected to connect to the latter’s grid by February 2020. The battery unit will be controlled remotely and can be activated in less than 30 seconds to help restore grid frequency to its reference level of 50Hz.
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