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By: Deputy Editor It’s been a dramatic start to 2021 for Britain’s electricity system, with record high prices recorded in both the nation's day ahead market and its Balancing Mechanism. As low winds and cold temperatures began to tighten capacity on the grid, National Grid ESO - Britain's system operator - issued a number of Electricity Margin Notices (EMN). There have been six this winter already, a number not seen since 2008. Following each of the most recent EMNs there has been a dramatic reaction in the day-ahead markets, with prices in the N2EX market hitting £1,500/MWh (US$2,05...

Published: 20 Jan 2021, 13:37 By: Andy Colthorpe UK-based energy storage system integrator and project developer Zenobe Energy was the third biggest recipient of VC funding in the battery storage sector during 2020 overall, according to Mercom. Image: Zenobe Energy. The amount of corporate funding coming into the global battery storage industry in 2020 was more than double the amount the previous year, with over US$6.5 billion raised last year compared to around US$2.8 billion in 2019. The findings come from Mercom, which produces quarterly reports on corporate and venture capit...

Published: 20 Jan 2021, 04:56 By: Andy Colthorpe McKinsey also said that the COVID-19 pandemic's impact on long-term power growth demand will be limited. Image: Solarcentury. Renewable energy uptake and the falling costs of battery energy storage are “inexorably linked” as the global economy faces a crucial decade ahead in its urgent need to decarbonise, according to work by McKinsey & Company. Bram Smeets, an associate partner at the prominent management consultancy group told Energy-Storage.news that continuously falling battery prices will enable the rapid growth of rene...

Published: 20 Jan 2021, 06:42 By: Some of Green Investment Group's selected year-in-review highlights of 2020. Image: GIG via Twitter. The Green Investment Group (GIG), a company owned by financial services group Macquarie, is investing an unspecified sum into esVolta, a US-headquartered developer and owner of utility-scale energy storage projects. esVolta has 600MWh+ of contracted energy storage projects in California, including the 75MW / 300MWh Hummingbird Energy Storage project which is one of several new facilities enabling investor-owned utility Pacific Gas & Electric (PG...

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