Energy Vault, the creator of a new way to perform utility-scale energy storage, announced that SoftBank Vision Fund (Vision Fund) invested $110 million in its Series B funding round. Energy Vault will use the funds to accelerate global deployment of its technology, which enables renewables to deliver baseload power for less than the cost of fossil fuels 24 hours a day, said the company. As part of the investment, Andreas Hansson, Partner for SoftBank Investment Advisers, will join the Energy Vault board of directors.
The renewable energy transition promises to reduce carbon emissions, but it’s happening at different speeds around the world. Read on for some key insights from BloombergNEF’s New Energy Outlook 2019, which provides a detailed road map to the future.
The Australian Renewable Energy Agency (ARENA), on behalf of the Australian government, has announced up to $40 million in funding towards the deployment of a pumped hydro energy storage (PHES) project in South Australia.
A new battery made from affordable and durable materials generates energy from places where salt and fresh waters mingle. The technology could make coastal wastewater treatment plants energy-independent and carbon neutral.
The UK’s North West Hydrogen Alliance (NWHA) is calling for government investment in hydrogen projects to meet ambitious carbon reductions targets in Britain.
When two U.K. power plants shut down almost simultaneously in London’s first major blackout for a decade, it triggered a storm of questions about how to avoid another failure.
The electric utility industry has been buffeted by two recent trends that threaten to upend the profitability, and in some cases the future viability of, those companies that are slow to adapt to a new, rapidly changing landscape. Specifically, in the past decade, the industry has had to grapple with both waning demand and the growth of distributed energy generation.
It may be time to start building power plants in Texas again.
Many of us are somewhat familiar with what an electric utility does. Our house receives electricity, and we get a bill in the mail each month for it. Here in North Carolina, that bill is likely coming from Duke Energy. In other parts of the country it may be PG&E or Dominion Power. For at least a century, these utility monopolies have built power plants, installed transmission and distribution lines, billed customers for their electricity use, and the utility made a predictable margin for their work.
The national average price of wind power purchase agreements dropped to below 2 cents/kWh in 2018, according to the annual Wind Technologies Market Report released by the U.S. Department of Energy.
U.S. Secretary of the Interior David Bernhardt has unveiled changes to the implementing regulations of the Endangered Species Act (ESA) that Interior says is “designed to increase transparency and effectiveness and bring the administration of the Act into the 21st century.”
Coming on the heels of Gap’s announced 90-MW PPA with Enel Green Power, BloombergNEF released its 2H 2019 corporate energy market outlook in which it said that corporations signed contracts to purchase 8.6 GW of clean energy in 2019 through July, up from 7.2 GW at the same time last year.
Global apparel retailer Gap Inc. announced that it has signed a 90-MW virtual power purchase agreement (VPPA) for the Aurora Wind Project with Enel Green Power North America, marking one of the largest offsite renewable energy contracts by an apparel retailer.
According to Vattenfall, the project will help provide less pronounced energy peaks and an overall more efficient use of energy infrastructure
The Trump administration cast the fate of the nation’s first major offshore wind farm into doubt by extending an environmental review for the $2.8 billion Vineyard Wind project off Massachusetts.
This week, San JosÃ©’s Community Choice Aggregator (CCA) which is called San JosÃ© Clean Energy (SJCE) and EDP Renewables SA (EDPR), through its fully owned subsidiary EDP Renewables North America LLC (EDPR NA), signed a 20-year power purchase agreement (PPA) for 100 MW of new solar energy capacity and 10 MW of battery storage at the Sonrisa Solar Park in Fresno County, California. The project is anticipated to be operational in 2022.
South Australian energy storage company 1414 Degrees and Stone & Wood Brewing Company have agreed to undertake a feasibility study for the integration of 1414 Degrees’ electrically charged Thermal Energy Storage System (TESS-IND).
A report recently released by the U.S. Department of Energy defines and evaluates cost and performance parameters of six battery energy storage technologies (BESS) and four non-BESS storage technologies.
Of all the efforts to break up utility monopolies in the U.S., the one unfolding in Arizona may be the most important to watch.
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The four proposed central Virginia lithium-ion projects will cost about $33 million to build and offer 5-years’ worth of test data, according to Dominion.