Electriq Power announced a financing agreement with a clean-energy firm. According to the agreement, it has secured $300 million in financing over the next 30 months to support the implementation of Sustainable Community Networks (SCNs) across California. Electriq Power offers energy solutions such as solar panels, batteries, software, and other services to help homeowners achieve energy independence
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We believe that a key factor that is supporting the strong pipeline in NAWE and Asia is that several markets, such as the US, Australia and Mainland China are forecasted to see significant growth in their non-hydropower renewables capacity in the next decade and limited large scale baseload low carbon power generation options. We forecast that the US, Australia and Mainland China will have 35%, 26% and 31% of their total electricity generation from renewable sources in the year 2031 respectively.
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The new law brings forward both the circular economy and zero pollution ambitions of the EU by making batteries sustainable throughout their entire lifecycle – from the sourcing of materials to their collection, recycling and repurposing. In the current energy context, the new rules establish an essential framework to foster further development of a competitive sustainable battery industry, which will support Europe’s clean energy transition and independence from fuel imports.
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A California microgrid project that will eventually hold one of the largest flow batteries in North America is currently under construction. The Viejas Band of Kumeyaay Indians in Alpine, California, will receive long-term energy storage through this project, which is supported by a $31 million grant from the California Energy Commission.
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Zinc8 Energy Solutions has notified the development of its first commercial production facility in Ulster County, New York. According to the company’s study, the recently announced US Inflation Reduction Act facilitates manufacturing production credits that provide distinct and direct benefits to Zinc8 impacting its US production plans. Zinc8 Energy Solutions has created a proprietary flow battery technology that it claims can deliver power ranging from 20 kW to 50 MW.
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Total demand for battery metals is forecast to jump by 50% this year to 4.8 million metric tons, and race to over 17.5 million tons by the end of the decade. Demand for lithium is set to grow the fastest, surging more than sevenfold between 2021 and 2030. The key question is whether there is sufficient supply to meet booming demand. Battery metals markets are expected to be tight in 2022 as rising demand coincides with inflationary pressures and supply chain constraints.
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Northvolt, a Swedish battery manufacturer, has announced plans to build a gigafactory in northern Germany with a 60 GWh annual manufacturing capacity. The manufacturing unit is expected to come up in Heide, Schleswig-Holstein and this factory will produce lithium-ion batteries for the European market. The manufacturing facility is expected to begin operations in 2025, resulting in the creation of 3,000 jobs in the area.
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This report is the first of a three-report series designed to create a shared understanding among stakeholders of current status and future trends that are emerging in the advanced chemistry cells (ACC) battery sector and to build awareness of India’s supportive programs on ACC battery storage, most importantly the Productive Linked Incentives (PLI) scheme for battery cell manufacturing.
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The US government plans to spend $2.91 billion to boost the country’s production of advanced batteries and related materials in order to assist the expansion of renewable energy sectors. The Department of Energy (DOE) has issued two notices of intent to support battery material refining and production plants, battery cell and pack manufacturing facilities, and recycling operations.
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The Australian Renewable Energy Agency (ARENA) has announced a $100 million financing round for grid-scale batteries with sophisticated inverters. Expressions of interest (EoI) will be accepted starting in February 2022 and will close on March 31, 2022. Later in 2022, selected bidders will be invited to submit a comprehensive application.
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