Description

TABLE OF CONTENTS

Executive summary (5)

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

1.1. Europe (6)

1.2. Asia (8)

1.3. Australia (8)

2. Project updates and announcements (9)

2.1. Overview of the 2022 & 2023 market for utility-scale energy storage projects (9)

2.2. Projects announced or contracted this month (10)

2.3. Projects commissioned this month (12)

2.4. Tenders this month (13)

3. Focus of the month: US & EU regulations for battery manufacturing and recycling (16)

3.1. Despite extensive efforts towards local manufacturing, the US is still behind on adapted recycling rules (16)

3.1.1. Investment Tax Credit for project developers (18)

3.1.2. Advanced Energy Project Tax Credit (19)

3.1.3 What about battery recycling? (21)

3.2.  The EU’s regulations for battery manufacturing and recycling are countered by a lack of support mechanisms (21)

3.2.1. Focus on stationary energy storage batteries (23)

3.2.1.1. Market movement (23)

3.2.1.2. Carbon footprint of rechargeable batteries (23)

3.2.1.3. Recycled content in batteries (23)

3.2.1.4. Safety of stationary battery energy storage systems (25)

3.2.1.5. Labelling and information requirements (25)

3.2.1.6. Obligations for energy storage operators (25)

3.3. Takeaways & market first reactions (26)

TABLE OF FIGURES

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

Figure 1 - Graph presenting the storage capacity awarded during the 2027 Polish capacity auction (7)

Figure 2 - Utility-scale energy storage projects announced/contracted and commissioned in 2022 and 2023 (ongoing) (10)

Figure 3 - Inflation Reduction Act mechanisms (17)

Figure 4 - High-level representation of Gigafactories in the US (17)

Figure 5 - Before and post Inflation Reduction Act battery pack costs (20)

Figure 6 - High-level representation of European Gigafactories with an annual production capacity greater than 5GWh (22)

Figure 7. Recycled active material rate in 2030 and 2035 (24)

Figure 8. Minimum recycling rate of the average weight of the battery (24)