Sunshine Energy Storage Investment Falls

What do we expect in the energy storage industry this year?

This report highlights the most noteworthy developments we expect in the energy storage industry this year. Prices: Both lithium-ion battery pack and energy storage system prices are expected to fall again in 2024.

How much will energy storage cost in 2023?

Storage solutions are now a growing part of this energy transition and will represent a $150 billion industry in the U.S. alone by 2023. However, massive deployment numbers and dropping costs won’t streamline project finance for energy storage in the short term.

How much will storage solutions cost in 2023?

Global investments of $374 billion a year will be needed to upgrade the grid with enough flexibility to account for the variable power generation profiles of renewable technologies like solar and wind. Storage solutions are now a growing part of this energy transition and will represent a $150 billion industry in the U.S. alone by 2023.

What is the future of energy storage?

Wood Mackenzie's latest Global Energy Storage Outlook projects that deployments will grow 13-fold over the next six years, from a 12-gigawatt-hour market in 2018 to a 158-gigawatt-hour market in 2024. This emerging market represents a huge opportunity.

Who is Sunshine Energy Australia's principal shareholder?

Sunshine Energy Australia’s principal shareholder is Hong Kong-based Eastern Union Limited. According to a company extract from the Australian Securities and Investments Commission, we’ll be able to divulge all shareholders in due time, but right now we are just trying to get the project going.

Is energy storage poised to lead the transformation of our energy economy?

As we enter the next phase of the energy transition, energy storage is poised to lead the transformation of our energy economy. Mona Dajani is a partner and the global leader of the Energy, Infrastructure & Water team at Pillsbury Winthrop Shaw Pittman.