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BNEF forecasts global energy storage market to grow 15-fold by 2030 to 411 GW/1194 GWh

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Energy storage installations around the world are projected to reach a cumulative 411 GW (or 1,194 GWh) by the end of 2030, according to the latest forecast from research company BloombergNEF (BNEF). That is 15 times the 27GW/56GWh of storage that was online at the end of 2021.

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FREYR Battery to site US gigafactory in Georgia; initial investment $1.7B, growing to $2.6B through 2029

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The company selected the Bridgeport Industrial Park site based on key operational, logistical, and financial criteria, including the suitability of the site to co-locate modular upstream and downstream projects with the Giga America cell manufacturing facility. According to Rystad Energy, to satisfy a 1.6-degree billion through 2029.

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Benchmark: global battery industry needs to invest $514B to meet demand in 2030; $920B by 2035

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The energy transition is still in its early stages and massive capital deployment is going to be needed in order to meet the goals of industry and policy makers. Energy storage might form a relatively small piece of the overall financing required, but it is a strategically critical piece of the puzzle.

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Hyundai Offering Free Chargers to EV Buyers, Swelling Industry Incentives

The Truth About Cars

While the ChargePoint device is framed as being free, it does require the purchase of a new automobile through the automaker’s captive finance arm Hyundai Capital America. That makes the $33,550 (before any federal tax credits or state incentives) Kona Electric the most affordable way to take advantage of the deal.

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Obama Administration launches series of actions to accelerate EV adoption; inc. $4.5B in loan guarantees, pursuing 350 kW fast charge

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Enable smart charging and vehicle grid integration through solutions such as demand response, and other energy storage and load management strategies. Dayton Power & Light Company. Duke Energy. Eversource Energy. Florida Power and Light Company. Indianapolis Power & Light Company. TECO Energy.

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The State of Medium- and Heavy-Duty Vehicle Electrification

Driivz

On the plus side, the federal Inflation Reduction Act includes a tax credit of 30% of a commercial electric vehicle’s purchase price up to $40,000, and a few states offer incentives as well. Volvo and Pilot Company are partnering, as are Daimler Truck North America , NextEra Energy Resources and Blackrock Renewable Power.

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President’s Jobs Council recommends an “All-in” energy strategy; from fossil fuels and pipelines, to efficiency, renewables and vehicle electrification

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In addition, the Council said, policies that encourage rapid lease development while emphasizing the highest safety standards will ensure companies responsibly drill for natural gas or oil and mine for coal or other our minerals in federal areas in a timely manner. —“Road Map to Renewal”.

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