Global Energy Storage Industry Updates: Key Developments from March 5, 2024

Summary of Today’s Energy Storage Industry Intelligence (March 5, 2024)

International News

• US Developer Secures $1.1 Billion for California Solar Storage Project: Arevon Energy, a renewable energy developer based in the United States, has secured a total financing commitment of $1.1 billion to develop a solar project with a capacity of 374 MW and energy storage of 150 MW/600 MWh in California. The project is expected to be operational in the first quarter of 2025.
• Zendure Introduces PV+Storage Solutions for Balconies: American startup Zendure has launched the AIO 2400, an integrated kit for balcony photovoltaic systems. This kit includes solar panels, micro-inverters, a plug-and-play storage system, and a management platform. The AIO 2400 features automatic power regulation and operates effectively at low temperatures. Zendure is selling this integrated kit in Germany for €1,340.
• Rolls Royce to Supply 160 MWh Battery Storage to Latvia: Rolls Royce, headquartered in Germany, will provide two large battery energy storage systems to Latvia’s transmission operator AST. The systems will have a total capacity of 80 MW/160 MWh and are expected to become operational in the fall of 2025. These systems will help synchronize with the European power grid and are designed to be more cost-effective than traditional power plants, marking Latvia’s largest battery storage system to date.

Industry Highlights

• New Products from Sungrow at Jinan Exhibition: On February 29, at the Jinan International Solar Exhibition, Sungrow showcased its integrated solutions for commercial and residential applications, launching the new high-power inverter SG150CX-CN and the residential inverter SGT-P2-CN. Sungrow also initiated a recruitment program for commercial storage agents, providing comprehensive support for low-carbon transformation.
• Upcoming Event: 2024 South China Photovoltaic Storage and Charging Conference: From April 20-22, 2024, the 9th South China Photovoltaic Storage and Charging Conference will be held at the Xiamen International Exhibition Center. This forum aims to bring together distributors, agents, and general contractors from the South China region, showcasing leading products and solutions in the photovoltaic storage and charging industry.

Market Environment

• National Energy Administration Releases 2023 Photovoltaic Construction and Operation Report: In 2023, the newly installed grid capacity for photovoltaic power generation reached 21.63 million kW, including 12.0014 million kW from centralized photovoltaic power plants and 9.6286 million kW from distributed photovoltaic systems. Among the distributed systems, household photovoltaic installations reached 4.3483 million kW.

Innovative Technologies

• New UPS System and Control Method: The Guangdong Electric Power Design Institute of China Energy Construction Group has unveiled a UPS system along with its control method and device. The system comprises external input, local output, backup power, and includes bidirectional rectifier inverter modules, inverter modules, a DC bus, and a controller. This invention aims to address power supply shortages during peak hours, enhancing the stability and reliability of electricity supply.
• Continuous Power Supply Control Method: Qindao Aidesen Technology has disclosed a control method for uninterrupted power supply (UPS), which involves monitoring the status of the municipal power supply. In the event of a power interruption, the method retrieves information from modular power sources and generates a power supply sequence, producing control commands to ensure uninterrupted power meets the load requirements.

This content is compiled from various online sources.