Description

 TABLE OF CONTENTS

Executive summary (5)

1. New regulations and initiatives discussed this month (6)

Project updates and announcements (9)

Overview of the 2021 & 2022 market for utility-scale energy storage projects (9)

Projects announced or contracted this month (10)

Projects commissioned this month (12)

Tenders this month (14)

3. Focus of the month: Long-duration energy storage: challenges and opportunities (15)

3.1. LDES is gaining traction as diversified solutions and opportunities start to emerge (16)

3.1.1. A wide palette of LDES solutions (16)

3.1.2. New opportunities are starting to emerge with California leading the way (19)

3.2. Despite the growing uptake, current market configurations are not advantageous to LDES (21)

3.2.1. Current power market structures do not make the case for LDES yet, even if some interesting changes are emerging (21)

3.2.2. Target clientele, bankability and company expertise still hinder a booming growth of LDES (22)

3.2.3. Case study: Optimal energy storage solutions and opportunities for LDES as part of the French energy transition (26)

TABLE OF FIGURES

Figure 1: Utility-scale energy storage projects announced/contracted and commissioned in 2021 and 2022 (ongoing) (10)

Figure 2. Distribution of storage projects discharge duration by announcement date (in % of MW) (15)

Figure 3. Revenues on the Belgium day ahead market assuming perfect forecast on the day-ahead market (22)

Figure 4. De-rating factors for an energy storage system participating in the British capacity market (23)

Figure 5. Evolution of the LCOE in a Li-ion battery-only storage power system (29)

Figure 6. Evolution of the LCOE in a Li-ion battery and hydrogen storage power system (29)

Figure 7. Evolution of the LCOE in a LDES-only storage power system (30)

Figure 8. Evolution of the LCOE in a LDES and hydrogen storage power system (32)

Figure 9. Evolution of the LCOE in a system hosting Li-ion and long duration storage solutions (33)

TABLE OF TABLES

Table 1. Selected projects under PG&E's latest procurement (11)

Table 2. Recent procurements of long-duration energy storage solutions (20)

Table 3. De-rating factors for an energy storage system participating in the French capacity market (23)