Market Developments

Pumped storage continues to account for the largest portion of global energy storage capacity by far. In 2022, global pumped storage capacity increased by 10.5 GW for a total of 175 GW. 88 Utility-scale battery capacity has grown much faster but from a relatively small base. 89 ( See Figure 3.)

Pumped storage capacity is concentrated mainly in China, with 26% of the global capacity. 90 In 2022, China accounted for 82% of the newly added capacity, leading in pumped storage additions for the 10th year in a row. 91 The Jinzhai pumped storage plant in Anhui Province was completed in January 2023, connecting more than 1.2 GW and contributing to the total of 8.8 GW of pumped storage added to the Chinese grid in January 2023. 92 Construction began on the USD 3 billion Fengning plant, which is expected to store up to 40 gigawatt-hours (GWh) of electricity and will use 12 reversible turbines to produce energy in high demand periods, pumping water to the upper reservoir at times of low demand. 93

In Europe, two major pumped storage facilities came online in 2022. In Portugal, the Tâmega Gigabattery, capable of storing 40 GWh, was inaugurated in July, and the first of four 220 MW pump turbines at the Gouvães hydropower plant was added to the Tâmega hydropower complex, where the Gouvães, Daivões and Alto Tâmega reservoirs are poised to generate an estimated 1.8 TWh per year when completed in 2024. 94 In Switzerland, the 14-year Nant de Drance project came online at a cost of USD 2.15 billion, with a reservoir capable of storing 20 GWh that will feed a series of six turbines with a total capacity of 900 MW. 95

In the United States, two projects with a combined pumped storage capacity of up to 17 GWh were submitted for the final licencing phase, joining only six other projects that have reached that phase in the last 20 years. 96

Total utility-scale battery capacity increased by around 67% in 2022, adding 11 GW to reach 28 GW in operation. 97 In the United States, installed grid-scale battery storage reached around 9 GW, with nearly half of this (4 GW) installed just in 2022. 98 In Europe, including the United Kingdom, 1.9 GW was installed in 2022, bringing the total capacity to 4.5 GW. 99 In China, an estimated 4.8 GW of utility-scale battery storage capacity was added, for a total installed capacity of 8.5 GW. 100

FIGURE 3.

Capacity Additions of Pumped Storage and Utility-Scale Battery Storage, by Region, and Total Storage Capacity, 2022

FIGURE 3.

Source: See endnote 89 for this module.

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With regard to regional interconnections, in August 2022 the transmission system operator TenneT agreed to 14 offshore grid connection contracts in the German and Dutch areas of the North Sea. 101 The contracts totalled around EUR 30 billion (USD 32.9 billion) and are expected to result in a transmission capacity of 28 GW of offshore wind power. 102 This represents Europe's largest-ever grid infrastructure contracting package and was driven mainly by concerns about the security of supply and by the transition to renewable electricity. 103

In 2022, India and the Maldives signed a memorandum of understanding to establish a transmission interconnection for renewable energy. 104 Egypt and Saudi Arabia similarly signed a memorandum of understanding and subsequent contracts to establish an electricity interconnection line between the countries. 105 The EU's Agency for the Cooperation of Energy Regulators published bidding zone configurations for transmission system operators to exchange energy without capacity allocation. 106

Sector coupling requires precise co-ordination, which can be achieved through digitalisation. Sector coupling can benefit from smart grids, smart network infrastructure development, and the development of “digital twins” as a data-based testing site for energy management and sector coupling. 107 Projects continue to be developed: Allianz provided EUR 25 million (USD 27.8 million) for a green hydrogen and power-to-gas project in Finland. 108 In Denmark, a 6 MW power-to-hydrogen prototype unit has been deployed to supply extra thermal energy to a district heating system. 109

With regard to energy storage optimisation, Pacific Gas and Electric (PG&E) in the US state of California uses artificial intelligence, advanced price forecasting, portfolio optimisation and market bidding algorithms to ensure that the electric system is responding optimally to wholesale market reliability needs. 110 In 2021, California's Independent System Operator (CAISO) implemented a trading platform powered by artificial intelligence to provide optimisation and market bidding services to the 182.5 MW (730 MWh) battery storage system in Moss Landing. 111 The platform provides asset and portfolio managers with updated price forecasts and optimised bids every hour, allowing PG&E to maximise the value of the asset for its customers, improve grid reliability and efficiency, and support California's transition to a more stable and resilient electric grid. 112

Data analytics in weather forecasting also helps power producers optimise their operations, reduce grid balancing costs, and improve the integration of wind and solar energy into the grid. In 2019, several states in India issued prediction requirements obligating operators of wind and solar farms to provide the respective grid operator with scheduling details for power generation, either through engagement with a qualified co-ordination agency or by fulfilling the prediction requirements themselves. 113 In case of imprecise predictions, power producers may incur fees due to outages.

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In 2022, scientists in Spain developed a new methodology for long-term prediction that focuses on the atmospheric circulation patterns on a planetary scale. 114 In the EU, the Destination Earth initiative (Use Case Energy Systems) provides tools and guidance to support grid operators with system modelling and grid planning by improving the accuracy and reliability of clouds and storm data and analysis. 115 Those forecasting solutions use advanced models, local weather data and historical performance data to deliver high-quality predictions, contributing to greater efficiency, reliability and economic viability of projects.

During 2019-2022, the Smart4RES project (funded by the EU's Horizon 2020 research and innovation programme) focused on research and development and the validation of a next generation of tools for modelling and forecasting energy production from variable renewable energy, as well as on decision making within different power system and electricity markets. 116 The project, which concludes in 2023, has proposed tools to ensure at least a 15% increase in the forecasting performance of variable renewables. 117 It also defines requirements for forecasting technologies to enable near-100% penetration of renewables by 2030 and beyond, introducing new data-driven optimisation and decision-making tools to enable the large-scale penetration of renewables into the electricity market and the provision of system services towards transmission and distribution system operators. 118

In Japan, customer-centric demand-side management aims to optimise the operation of 74 GW of installed solar energy that drives the common “duck curve i ” of low mid-day prices and steep ramping rates in the evening. 119 Japan's Agency for Natural Resources and Energy has outlined a strategic plan that focuses heavily on demand-side measures, with new balancing and flexibility products being developed starrng in 2022. These include: 1) a capacity mechanism; 2) reserve product replacement reserves for feed-in tariffs opened to demand aggregators, with day-ahead bidding and availability payments; and 3) a suite of faster operarng services providing frequency response, requiring on-site reaction to the changing frequency. 120

A virtual power plant (VPP) is a cloud-based network that consists primarily of distributed energy resources – such as solar panels, wind turbines and energy storage systems – that are aggregated and co-ordinated to operate as a single entity ii . VPPs can be controlled and optimised using advanced software algorithms, which enable them to provide grid services, such as frequency regulation and voltage control. This can help stabilise the grid and improve the integration of renewable sources. VPPs can: 1) ensure enhanced grid reliability by pooling resources, helping to stabilise the grid during periods of peak demand or during fluctuations in renewables, improving the overall reliability of the power system; 2) ensure optimal use of distributed resources, by co-ordinating their operation according to grid requirements and market conditions; and 3) reduce investment in traditional centralised power plants, by harnessing the combined capacity of smaller, decentralised, distributed energy resources.

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Many countries worldwide saw rising interest in VPPs in 2022, and the market value globally reached USD 3.36 billion121 ( See Table 1.) One of the largest VPP operators in Europe, Next Kraftwerke, has more than 15,000 aggregated units across eight countries, with a network capacity of roughly 13 GW and an annual trade volume of more than 15 TWh. 122 Given its innovative and successful business model, the company was acquired in 2021 by Shell. 123 BP was the first to jump on this trend in 2021 when it acquired Blueprint Power, a US-based VPP operator. 124 Along with the acquisition, in early 2023 Lighthouse bp, a subsidiary of BP, began a solar plant operation in the US state of Indiana, supported by a virtual power purchase agreement. 125

Table 1.

Networked Capacity of Selected VPP Operators Worldwide, as of Early 2023

Table 1.

Source: See endnote 121.

China has established pilot projects to build VPPs in locations such as Hebei, Shandong, Shanghai and Shanxito to distribute electricity more efficiently. The newly launched VPP in Shenzhen can pull together a capacity of 870 MW, which is planned to increase to 10 GW by 2025. 126 In Japan, Tesla has been installing its Powerwall batteries in homes on Miyako-jima island since 2021, with more than 300 installed to form the country's largest commercial VPP. 127 Dubai Electricity and Water Authority in the United Arab Emirates is now using a VPP, the first of its kind in the Middle East, to enhance its smart grid integration between different energy sources. 128

In Greece, Protergia, the power and gas unit of the Greek company Mytilineos, together with the German firm emsys VPP, officially inaugurated the country's first VPP in 2022. 129 Equipped with the complete software-as-a-service solution for aggregators, Protergia has digitised its own solar and wind power portfolio, as well as those of third parties, to monitor, forecast, remote-control and trade their variable electricity production in real time. The facilities will be enabled to participate in the market as balancing service providers on their own or through a renewable energy aggregator, which, with proper management, will revitalise existing revenue streams. 130

In the United States, the Puerto Rico Electric Power Authority (PREPA) selected Sunrun in 2022 to deploy a 17 MW solar-plus-storage VPP network, marking the first large-scale distributed storage project on the island. 131 In Puerto Rico, having experienced many hurricanes such as Maria in 2017, a VPP network can stabilise the island's power grid by connecting more than 7,000 Sunrun residential solar-plus-storage systems. 132

Microgrids represent a shift in electricity generation, distribution, and consumption, offering economic benefits, enhanced reliability, resilience, and sustainability by operating as self-contained power systems that can connect to or operate independently of the main grid, optimising the performance of renewable and conventional energy assets, particularly in rural and off-grid areas. 133 ( See Sidebar 2) Microgrids can demonstrate resilience in extreme weather events and showcase how renewables can create sustainable and resilient communities in the face of climate change and natural disasters. 134 (See Snapshot: United States.)

Snapshot.UNITED STATES

Microgrids for Resilience Against Natural Disasters

Babcock Ranch in South Florida is a 100% solar community, calling itself “America's first solar-powered town”. The local solar array, made up of 700,000 individual panels, can generate more electricity than is used in the 2,000-home neighbourhood, in a state where most power is generated by burning fossil gas. In 2022, when Hurricane Ian battered Florida's eastern coast, the community did not lose power or Internet connectivity, showcasing its robust design and ability to withstand extreme weather events. The town's infrastructure includes a network of lakes to mitigate flooding, energy-efficient buildings, and a microgrid system that enables it to function independently from the main grid.

Read more Collapse

Microgrids for Resilience Against Natural Disasters

Babcock Ranch in South Florida is a 100% solar community, calling itself “America's first solar-powered town”. The local solar array, made up of 700,000 individual panels, can generate more electricity than is used in the 2,000-home neighbourhood, in a state where most power is generated by burning fossil gas. In 2022, when Hurricane Ian battered Florida's eastern coast, the community did not lose power or Internet connectivity, showcasing its robust design and ability to withstand extreme weather events. The town's infrastructure includes a network of lakes to mitigate flooding, energy-efficient buildings, and a microgrid system that enables it to function independently from the main grid.

Image

Babcock Ranch serves as an example of how solar power, coupled with thoughtful planning and advanced technology, can create sustainable, resilient communities that can thrive in the face of climate change and natural disasters. To benefit from the inherent resiliency of distributed power and the microgrid-intelligent controllers, the solar panels must first survive a severe storm event, whether on the ground or attached to roofs. Encased in glass, the thin and technologically complicated solar PV modules would appear to be a prime target for hurricane-force destruction, but solar panels are surprisingly robust. Solar installers often take extra precautions when installing systems in hurricane-prone areas, designing them specifically to withstand the highest possible hurricane-force winds and making sure the solar panels will stay safe.

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Source: See endnote 134

Footnotes

i The term was first used in 2012 and was coined by the California Independent System Operator in the United States.

ii VPPs can also (less commonly) aggregate other, non-distributed energy resources.

  1. Renewable Energy Policy Network for the 21st Century (REN21),
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  2. REN21, “Renewables 2023 Global Status Report Collection: Renewables in Energy Supply”, July 2023, https://www.ren21.net/gsr-2023/modules/energy_supply/01_energy_supply. 2
  3. Ember, “Global Electricity Review 2023”, April 12, 2023, https://emberclimate.org/insights/research/global-electricity-review-2023.3
  4. Geschäftsstelle der Arbeitsgruppe Erneuerbare Energien-Statistik (AGEE-Stat) am Umweltbundesamt, “Erneuerbare Energien in Deutschland 2022”, March 2023, https://www.umweltbundesamt.de/publikationen/erneuerbare-energien-in-deutschland-2022; WindEurope Intelligence Platform, “Wind Energy in Europe: 2022 Statistics and the Outlook for 2023-2027”, February 28, 2023, https://windeurope.org/intelligence-platform/product/wind-energy-in-europe-2022-statistics-and-the-outlook-for-2023-2027; Institute for Sustainable Energy Policies, “2022 Share of Electricity from Renewable Energy Sources in Japan”, April 13, 2023, https://www.isep.or.jp/en/1436; US Energy Information Administration, “Short-term Energy Outlook”, May 2023, https://www.eia.gov/outlooks/steo/pdf/steo_full.pdf. Figure 1 from Ember, op. cit. note 3; maximum daily penetration for Europe from Fraunhofer-Gesellschaft, “Energy Charts”, 2023, https://energy-charts.info/index.html; Australia from “Open Platform for National Electricity Market Data”, 2023, https://opennem.org.au. 4
  5. Ibid, all references.5
  6. International Energy Agency (IEA), “World Energy Outlook 2022”, October 2022, https://iea.blob.core.windows.net/assets/830fe099-5530-48f2-a7c1-11f35d510983/WorldEnergyOutlook2022.pdf. 6
  7. Ibid.7
  8. Carbon Tracker Initiative, “Britain Wastes Enough Wind Generation to Power 1 Million Homes”, June 15, 2023, https://carbontracker.org/britain-wastes-enough-wind-generation-to-power-1-million-homes.8
  9. B. Wehrmann, “Germany Curtails Four Percent of Renewable Power Production Due to Grid Bottlenecks”, Clean Energy Wire, December 13, 2022, https://www.cleanenergywire.org/news/germany-curtails-four-percent-renewable-power-production-due-grid-bottlenecks. 9
  10. R. Kennedy, “Can Renewables Curtailment Be Rethought as a Good
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  11. C. Murray, “Transmission and Valuation the Major Challenges to Energy Storage Deployments in US Today”, Energy Storage News, March 28, 2023, https://www.energy-storage.news/transmission-and-valuation-the-major-challenges-to-energy-storage-deployments-in-us-today; N. El Chami and V. Gialdi Carvalho, “Evolution of Business Models for Energy Storage Systems in Europe”, Energy Storage News, April 11, 2023, https://www.energy-storage.news/evolution-of-business-models-for-energy-storage-systems-in-europe.11
  12. International Renewable Energy Agency (IRENA), “Utility-scale Batteries: Innovation Landscape”, 2019, https://www.irena.org/-/media/Files/IRENA/Agency/Publication/2019/Sep/IRENA_Utility-scale-batteries_2019.pdf. 12
  13. IRENA, “Sector Coupling in Facilitating Integration of Variable Renewable Energy in Cities”, October 2021, https://www.irena.org/-/media/Files/IRENA/Agency/Publication/2021/Oct/IRENA_Sector_Coupling_in_Cities_2021.pdf. 13
  14. Ibid.14
  15. Hydrogen Central, “Greenhyscale Has Begun the Installation Process of a 6 MW Prototype Electrolyser in the Danish Green Industrial Park, Greenlab”, April 12, 2023, https://hydrogen-central.com/greenhyscale-begun-installation-process-6-mw-prototype-electrolyser-danish-green-industrial-park-greenlab. 15
  16. Energy Market Authority, Government of Singapore, “What Is Demand Side Management”, 2022, https://www.ema.gov.sg/Demand_Side_Management.aspx.16
  17. Energy Sector Management Assistance Program, “Using Forecasting Systems to Reduce Cost and Improve Dispatch of Variable Renewable Energy”, World Bank, 2019, https://doi.org/10.1596/32072.17
  18. ENTSO-E, “Dynamic Line Rating”, https://www.entsoe.eu/Techno­pedia/techsheets/dynamic-line-rating-dlr, accessed May 2023.18
  19. M. Mishra, “Transmission Delays Hit India's Solar Power Plants”,
    Indian Express, November 30, 2022, https://indianexpress.com/article/business/transmission-delays-hit-indias-solar-power-
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  20. Sidebar 1 based on the following sources: IEA and Réseau de Transport d'Electricité, “Conditions and Requirements for the Technical Feasibility of a Power System with a High Share of Renewables in France Towards 2050”, March 16, 2021, https://doi.org/10.1787/6be9f3ac-en; N.K. Roy et al., “Virtual Inertia Support in Power Systems for High Penetration of Renewables – Overview of Categorization, Comparison, and Evaluation of Control Techniques”, IEEE Access, Vol. 10 (2022), pp. 129190–216, https://doi.org/10.1109/ACCESS.2022.3228204; D. Pagnani et al., “Overview of Black Start Provision by Offshore Wind Farms”, IECON 2020 The 46th Annual Conference of the IEEE Industrial Electronics Society, 2020, pp. 1892-1898, https://ieeexplore.ieee.org/document/9254743; Think Grid, “Synchronous Condensers for Better Grid Stability”, March 16, 2016, https://www.think-grid.org/synchronous-condensers-better-grid-stability; P. Denholm et al., “Inertia and the Power Grid: A Guide Without the Spin”, National Renewable Energy Laboratory (NREL), May 1, 2020, https://www.nrel.gov/docs/fy20osti/73856.pdf; Y. Lin et al., “Research Roadmap on Grid-Forming Inverters”, NREL, November 2020, https://www.nrel.gov/docs/fy21osti/73476.pdf.20
  21. BloombergNEF, “A Power Grid Long Enough to Reach the Sun Is Key to the Climate Fight”, March 8, 2023, https://about.bnef.com/blog/a-power-grid-long-enough-to-reach-the-sun-is-key-to-the-climate-fight.21
  22. Ibid.22
  23. Electric Power Research Institute, “Understanding Flexible Interconnection”, September 20, 2018, https://restservice.epri.com/publicdownload/000000003002014475/0/Product.23
  24. Spotlight: Germany based on the following sources: J. Ponitka and S. Boettner, “Challenges of Future Energy Landscapes in Germany — a Nature Conservation Perspective”, Energy, Sustainability and Society, Vol. 10, No. 1 (18 March 2020), p. 17, https://doi.org/10.1186/s13705-020-00250-9; H. Winkler, “German Nimbyism Is a Perverse Problem That Really Shouldn't Exist”, Recharge, November 12, 2019, https://www.rechargenews.com/markets/german-nimbyism-is-a-perverse-problem-that-really-shouldn-t-exist/2-1-704555; Bundesministerium der Justiz, “EnLAG – Gesetz Zum Ausbau von Energieleitungen”, June 2, 2021, https://www.gesetze-im-internet.de/enlag/BJNR287010009.html; Bundesministerium der Justiz, “NABEG – Netzausbaubeschleunigungsgesetz Übertragungsnetz”, March 22, 2023, https://www.gesetze-im-internet.de/nabeg/BJNR169010011.html.24
  25. IRENA, “Renewable Energy Benefits: Measuring the Economics”, 2016, https://www.irena.org/-/media/Files/IRENA/Agency/Publication/2016/IRENA_Measuring-the-Economics_2016.pdf; IRENA, “Measuring the Socio-Economics of Transition: Focus on Jobs”, 2020, https://www.irena.org/-/media/Irena/Files/Technical-papers/IRENA_Measuring_Socio-economic_Jobs_2020.pdf; COBENEFITS, “Renewable Energy, Employment Opportunities and Skill Requirements: Socio-economic Assessment Tools, Key Findings and Expert Contacts”, November 2021, https://www.cobenefits.info/wp-content/uploads/2021/11/Co-Benefits-Factsheets_Employment_2021-2022.pdf; Organisation for Economic Co-operation and Development (OECD), “Linking Renewable Energy to Rural Development”, October 11, 2012, https://www.oecd-ilibrary.org/urban-rural-and-regional-development/linking-renewable-energy-to-rural-development_9789264180444-en. 25
  26. REN21 Policy Database. See GSR 2023 Data Pack, available at www.ren21.net/gsr2023-data-pack/systems.26
  27. Ibid.27
  28. Ibid.28
  29. H. Aposporis, “Greece Boosts Renewable Energy Target for 2030 by 9 GW, Adds Hydrogen”, Balkan Green Energy News, January 18, 2023, https://balkangreenenergynews.com/greece-boosts-2030-renewable-energy-target-by-9-gw-adds-hydrogen. 29
  30. G.F. Dycus, “Victoria Targets 6.3 GW of Renewable Storage by 2035”, pv magazine Australia, September 27, 2022, https://www.pv-magazine-australia.com/2022/09/27/victoria-targets-6-3-gw-of-renewable-storage-by-2035. 30
  31. J. St. John, “California Ups Renewables Target Again with New Plan to Add 85GW By 2035”, Canary Media, February 24, 2023, https://www.canarymedia.com/articles/clean-energy/california-ups-renewables-target-again-with-new-plan-to-add-85gw-by-2035; R. Kennedy, “Maryland Passes Energy Storage Target of 3 GW in 10 Years”, pv magazine USA, April 11, 2023, https://pv-magazine-usa.com/2023/04/11/maryland-passes-energy-storage-target-of-3-gw-in-10-years; J. Plautz, “New York to Double Energy Storage Target to at Least 6 GW by 2030”, Utility Dive, January 7, 2022, https://www.utilitydive.com/news/new-york-to-double-energy-storage-target-to-at-least-6-gw-by-2030/616793. 31
  32. A. Colthorpe, “US, EU Policies Prompt BloombergNEF to Upgrade Global Energy Storage Deployment Forecasts”, Energy Storage News, October 14, 2022, https://www.energy-storage.news/us-eu-policies-prompt-bloombergnef-to-upgrade-global-energy-storage-deployment-forecasts. 32
  33. A. Colthorpe, “Israel Adds Energy Storage-Friendly Tariffs to Maximise Renewable Energy Potential”, Energy Storage News, April 17, 2023, https://www.energy-storage.news/israel-adds-energy-storage-friendly-tariffs-to-maximise-renewable-energy-potential. 33
  34. A. Colthorpe, “'Major Breakthrough': Australia's Support for Energy Storage Tackles Key Electricity Policy Issue”, Energy Storage News, December 21, 2022, https://www.energy-storage.news/major-breakthrough-australias-support-for-energy-storage-tackles-key-electricity-policy-issue. 34
  35. White & Case LLP, “Electricity Storage in France: New Calls for Tenders Will Be Launched”, June 13, 2022, https://www.whitecase.com/insight-alert/electricity-storage-france-new-calls-tenders-will-be-launched; Bundesnetzagentur, “Auction Results for Innovative Installation Concepts and for Solar Installations on Buildings and Noise Barriers”, May 12, 2022, https://www.bundesnetzagentur.de/SharedDocs/Pressemitteilungen/EN/2022/20220512_Ausschreibungen.html. 35
  36. Figure 2 from REN21 Policy Database. See GSR 2023 Data Pack, available at www.ren21.net/gsr2023-data-pack/systems.36
  37. A. Colthorpe, “India Adds Energy Storage Obligation Policy to Renewable Energy Purchase Scheme”, Energy Storage News, July 26, 2022, https://www.energy-storage.news/india-adds-energy-storage-obligation-policy-to-renewable-energy-purchase-scheme; A. Colthorpe, “India's National Budget Includes Viability Gap Funding for 4GWh of Energy Storage”, Energy Storage News, February 1, 2023, https://www.energy-storage.news/indias-national-budget-includes-viability-gap-funding-for-4gwh-of-energy-storage. 37
  38. Carbon Brief, “China Briefing, 24 March 2022: 14FYP Energy Plan; More Plans on Energy Storage and Hydrogen; China's Emissions Analysis”, March 24, 2022, https://www.carbonbrief.org/china-briefing-24-march-2022-14fyp-energy-plan-more-plans-on-energy-storage-and-hydrogen-chinas-emissions-analysis. 38
  39. A. Colthorpe, “Philippines' Rule Changes ‘Will Propel ASEAN's Leading Energy Storage Market to Even Stronger Position'”, Energy Storage News, February 9, 2023, https://www.energy-storage.news/philippines-rule-changes-will-propel-aseans-leading-energy-storage-market-to-even-stronger-position. 39
  40. A. Colthorpe, “European Commission's Net Zero Industry Act Includes Energy Storage as Eligible Technology”, Energy Storage News, March 16, 2023, https://www.energy-storage.news/european-commissions-net-zero-industry-act-includes-energy-storage-as-eligible-technology. 40
  41. M. Maisch, “Romania Provides Funding for C&I Battery Storage Systems”, pv magazine, December 2, 2022, https://www.pv-magazine.com/2022/12/02/romania-provides-funding-for-ci-battery-storage-systems; E. Bellini, “Romania Introduces New Rules for Energy Storage”, pv magazine, February 6, 2023, https://www.pv-magazine.com/2023/02/06/romania-introduces-new-rules-for-energy-storage.41
  42. E. Bellini, “Turkey Introduces New Rules for Energy Storage”, pv magazine, November 21, 2022, https://www.pv-magazine.com/2022/11/21/turkey-introduces-new-rules-for-energy-storage.42
  43. C. Murray, “Chile Passes Major Energy Storage Bill”, Energy Storage News, October 24, 2022, https://www.energy-storage.news/chile-passes-major-energy-storage-bill.43
  44. Morgan Lewis, “Storage Strategies: An Overview of State Energy
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  45. C. Murray, “Maryland Targets 3GW of Energy Storage by 2033”, Energy Storage News, April 12, 2023, https://www.energy-storage.news/maryland-targets-3gw-of-energy-storage-by-2033; C. Murray, “New Mexico Targets 7GWh of New Energy Storage by 2034”, Energy Storage News, March 15, 2023, https://www.energy-storage.news/new-mexico-targets-7gwh-of-new-energy-storage-by-2034.45
  46. M. Chatter, “California's New Net Metering Policy Brings Batteries into the Forefront”, pv magazine USA, February 13, 2023, https://pv-magazine-usa.com/2023/02/13/californias-new-net-metering-policy-brings-batteries-into-the-forefront. 46
  47. A. Colthorpe, “Nova Scotia Electricity Law Changes Give ‘New Momentum' to Energy Storage Projects”, Energy Storage News, March 24, 2023, https://www.energy-storage.news/nova-scotia-electricity-law-changes-give-new-momentum-to-energy-storage-projects. 47
  48. A. Colthorpe, “Queensland Rolling Out Neighbourhood Batteries to Maximise Rooftop Solar Benefits”, Energy Storage News, February 3, 2023, https://www.energy-storage.news/queensland-rolling-out-neighbourhood-batteries-to-maximise-rooftop-solar-benefits. 48
  49. Seetao, “Pumped Storage: the 14th Five-Year Plan Starts at 270 Million Kilowatts”, June 14, 2022, https://www.seetao.com/details/163461.html.49
  50. Bloomberg, “China's Massive Hydro Energy Storage Goals May Be Getting Bigger”, June 14, 2022, https://www.bloomberg.com/news/articles/2022-06-14/china-s-massive-hydro-energy-storage-goals-may-be-getting-bigger. 50
  51. A. Colthorpe, “India's Ministry of Power Issues Guidelines for Pumped Hydro Energy Storage”, Energy Storage News, February 22, 2023, https://www.energy-storage.news/indias-ministry-of-power-issues-guidelines-for-pumped-hydro-energy-storage; Aposporis, op. cit. note 29.51
  52. Queensland Government, “World's Biggest Pumped Hydro for Queensland”, September 28, 2022, https://statements.qld.gov.au/statements/96233.52
  53. IEA, “World Energy Outlook 2022”, 2022, https://iea.blob.core.windows.net/assets/830fe099-5530-48f2-a7c1-11f35d510983/WorldEnergyOutlook2022.pdf. 53
  54. Natural Resources Defense Council, “After a Good Year for
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