Energy Storage

SBI Energy’s recently released report states that the $2.5 billion global high temperature energy storage (HTS) market of 2020 is going to be dominated by the sale and construction of molten salt storage systems for CSP plants. With the increasing need for storage solutions for renewable energy, the report highlights the trends that are taking place in the battery world.

A new report from Pike Research predicts that, over the next decade, photovoltaic and wind energy production will be the main driver for $122 billion in investment energy storage projects.

Samsung has said that it plans to invest USD$5.5 billion in the development of solar technology and production by 2020.

Although China is developing its photovoltaics (PV) market rapidly, the country still has some major hurdles to overcome. As the 2010 Golden Sun PV Industry Summit, held this week in Beijing, China, clearly showed, not only do the prospects of a national feed-in tariff remain uncertain, but other key issues are proving to hinder a major ramp-up of the domestic market.

U.S. Energy Secretary Steven Chu has announced that the Department of Energy’s (DOE) Sandia National Laboratories is investing USD$8.5 million for four projects, which have reached Stage III of the Solar Energy Grid Integration Systems (SEGIS) program. DOE reported that these investments will be matched more than one-to-one by the SEGIS contractors to support more than USD$20 million in total projects.