Results for: Battery Storage

The American Clean Power Association (ACP) has launched a model ordinance aimed at promoting the highest safety standards for energy storage systems. This comprehensive framework, drawing from the National Fire Protection Association’s (NFPA) standard NFPA 855, provides guidance for state and local governments on siting and permitting rules for utility-scale battery energy storage systems. The model ordinance is designed to facilitate safe and effective deployment of energy storage, benefiting communities by enhancing grid reliability and reducing energy costs.

Apricus Generation, a national distributed solar and battery development platform, has acquired a controlling interest in Nexus Renewables, a leading developer of community solar and battery energy storage systems (BESS) projects. This strategic acquisition will provide Nexus with the management expertise, support, and capital needed to advance its 500MW project pipeline to generation, making it one of the leading IPP platforms in this space.

Ørsted, a leading U.S. clean energy developer, announced a tax equity investment from J.P. Morgan for a portfolio of solar and storage assets in California and Texas. The portfolio includes Eleven Mile Solar Center (300 MW solar, 300 MW / 1200 MWh storage) in California and Sparta Solar (250 MW solar) in Texas. The investment represents one of the largest solar and storage tax equity transactions using a combined PTC and ITC structure since the passage of the Inflation Reduction Act (IRA). The Eleven Mile Solar Center will receive a one-time ITC for its battery storage system, while the solar farm will generate PTCs over ten years. The partnership with J.P. Morgan includes the option for tax credit transferability, allowing corporate buyers to support clean energy projects and optimize tax liability. The investment will fund the completion of both projects, totaling 550 MW of solar and 300 MW of four-hour battery storage, with commercial operations expected in 2024.

The Sun Streams 3 battery storage yard, part of the Longroad Sun Streams Complex in Arizona, is nearing completion, with approximately one million battery cells spanning 15 acres. The complex, when completed, will comprise over 950 MWdc of solar and 600 MWac / 2500 MWh storage. The three projects in the complex, Sun Streams 2, 3, and 4, will generate clean energy to power 200,000 average American homes, support 1,000 construction jobs, and provide more than $300 million in benefits to Arizona schools and communities. The complex is expected to avoid 1,4000,000 metric tons of CO2 emissions annually, equivalent to the emissions of four natural gas-fired power plants.

NextEra Energy (NEE) has reported strong first quarter results, including an 8.3% increase in adjusted earnings per share year-over-year. The company has made significant strides in expanding its renewable energy portfolio, adding 1,640 MW of new solar capacity and 2,765 MW of new renewables and storage projects to its backlog. With the US renewables and storage market expected to triple in size over the next seven years, NextEra Energy is poised to capitalize on the burgeoning demand.

Enphase Energy’s Q1 results fell short of expectations, with revenues and profitability underwhelming. While revenues in Europe increased, sales in the company’s core domestic market declined due to seasonality and softer demand. Despite meeting guidance ranges, the company’s weak performance and Q2 guidance missed consensus estimates. Analysts expect further estimate reductions, with consensus 2024 revenue and earnings per share projections likely to decrease. Enphase’s heavy exposure to the flagging U.S. market continues to impact its financial performance, while SolarEdge, with its strong presence in Europe, stands to benefit.

Qmerit, a leading provider of implementation and systems integration solutions for electrification technologies, has announced significant increases in its residential services related to electric vehicle (EV) charging and battery storage systems, as well as solar panels and other services. The company’s national network of certified electricians implemented over 180,000 Level 2 and DC Fast EV charging systems for residences in 2023, a rise of about 71% compared to 2022. Qmerit also performed over 17,500 battery storage system implementations in 2023, a jump of approximately 170% from the prior year, and over 27,000 solar panel installations, a 2% uptick.