Utility Scale Storage

China’s Sinopec has switched on the world’s largest solar-to-hydrogen project in Xinjiang, while India has unveiled a new plan to incentivize green hydrogen and electrolyzer production.

Solar levelized cost of electricity will reach less than $45 (USD 30) per MWh in 2050 as global capacity grows 22-fold, said DNV.

A sharp rise in connection and terminal station charges is stalling storage from coming online, according to an Australian developer. While the price hikes could be attributable to a quagmire of complications the industry currently faces, the developer questioned whether Australia’s TNSP monopoly system is a contributing factor.

Construction has started on Western Australia’s second grid-scale battery in Kwinana as the state government looks to scale up energy storage capacity to support its planned transition from coal-fired power to renewables.

Australian renewable energy startup Green Gravity has teamed with underground mining contractor RUC to accelerate the commercialisation of its gravitational energy storage technology which rests on moving weighted objects through disused mine shafts.

Australian renewable energy developer Genex Power has entered into agreements with Japanese electric utility J-Power to receive a multi-million-dollar funding package that will support the delivery of its 2 GWh pumped hydro project in northern Queensland and the development of the 2 GW Bulli Creek solar and battery project in the state’s southeast.

The Australian government’s green bank has tipped $100 million (USD 66 million) in to help fast track the development of the 850 MW/1,680 MWh Waratah Super Battery Project that is set to play a significant role in the nation’s shift from coal-fired generation to renewables.

New South Wales will be the test bed for the Commonwealth-funded Capacity Investment Scheme with the federal government to underwrite investment that will help deliver almost 1 GW of firmed renewable energy capacity to support the state’s rapidly changing energy market.

George Hilton, research manager at S&P Global, spoke to pv magazine at the recent Intersolar 2023 trade show about the latest energy storage trends. He said the industry needs easy-to-install products and more efficient supply chains, and noted that battery prices are highly volatile because they fluctuate in response to changes in the dynamic Chinese electric vehicle market.

Over the next five to 15 years, batteries will undercut the business case for major transmission and interconnector projects. These assets will nonetheless likely be built, decreasing price spreads and eating into the revenues of batteries, solar and storage analyst Warwick Johnston predicts.