Energy! Electricity! Winter! charcoal!

These are the most popular search terms on Google recently. To investigate the reason, it is nothing more than the instability of the global situation and the unsmooth energy supply. From a certain point of view, this situation has instead promoted the demand for new energy sources, including lithium-ion battery energy storage systems. After all, all products ultimately serve people's needs.

The dilemma of chemical energy is difficult to solve in a short period of time, and many investors or governments with long-term vision are already accelerating the layout and construction of new energy projects. SES Power is a professional lithium battery energy storage system integrator with nearly 20 years of experience. Our products have high technical content and high cost performance, which makes us have many customers in Europe and America.

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Let us sort out the recent dynamics of the energy storage market for you.

A: Greece's 900MW energy storage project will receive 341 million euros in EU aid

The European Union has approved a plan by the Greek government to invest 341 million euros ($339.5 million) in Greece's 900MW energy storage development pipeline under its state aid rules.

The energy storage projects will be selected through a competitive bidding process, with contracts to be awarded by the end of 2023, and the projects are expected to be completed by the end of 2025.

State aid is provided in the form of investment grants during project construction, followed by annual support for the first 10 years of operation of these projects, which provides funding equivalent to €380,000/MW.

Part of the funding will come as part of Greece's EU-wide recovery and resilience plan, which aims to mitigate the negative impact of the coronavirus on the economy.

Competitive tenders will determine annual support for each project, which will be adjusted through a clawback mechanism if the energy storage system earns excess market revenue.

The European Commission has approved aid for EU member states to deploy energy storage projects after it found that storage projects could not be implemented without public support. After recently doubling its energy storage target, Greece aims to deploy a cumulative 3GW of energy storage systems by 2030.

Margrethe Vestager, executive vice-president of the European Commission responsible for competition policy, said: “Increasing the amount of energy storage capacity available in the power system is key to making the grid more flexible and better prepared for the future, where renewable energy will become a key component of decarbonisation. The backbone of the power mix.”

Introduced in January 2022, the new EU state aid guidelines were meant to create a flexible support framework that would provide its member states with the necessary support to culminate in the goals of the December 2019 Green Deal, when the EU announced that until 2050 became the first climate-neutral continent.

There are many energy storage market drivers in Greece, including strong government support, Corentin Baschet of renewable energy consultancy Clean Horizon told industry media.

B: The New York State government provides $16.6 million to support the deployment of long-term energy storage projects

The New York State government has committed $16.6 million in funding for five long-term energy storage (LDES) projects.

Governor Kathy Hochul announced the projects at an energy technology conference in New York City. Meanwhile, Hochul revealed that an additional $17 million will be made available through competitive financing opportunities to advance long-duration energy storage projects that can be developed and demonstrated at scale.

(New York Governor Kathy Hochul announced the funded projects at the 2022 Advanced Energy Conference in New York City)

Three of the five projects are long-duration energy storage projects using hydrogen as a medium.

One of the projects includes a zinc-based battery energy storage project with a duration of 6 hours, a pumped hydro storage system combined with offshore wind power facilities, a hydrogen energy storage project combined with nuclear power generation, a reversible hydrogen fuel cell and a Prototype "Solid Oxide Electrolyzer Cell" for hydrogen production.

"Innovative and forward-looking approaches will transform energy storage, which is critical to combating climate change and transitioning to a clean energy economy," Hochul said. "New York State is making bold investments in clean energy, and this $16.6 million grant will Projects for harnessing renewable energy and underutilized long-term energy storage solutions.”

The funding comes from the Renewable Energy Optimization and Energy Storage Innovation Program, which supports renewable energy integration and technological advancements to reduce the use of fossil fuels. The program is administered by the New York State Energy Research and Development Authority (NYSERDA).

The five projects are listed below in descending order of funding amount:

The $12.5 million Nine Mile Point Nuclear Power Station: Demonstrates long-term hydrogen storage and peaking nuclear and hydrogen generation, and how to reduce carbon emissions from the New York Independent System Operator (NYISO) grid.

$2.7 million to the Borrego Solar Systems project: These are two self-contained battery energy storage systems based on zinc battery technology with a duration of six hours, designed to demonstrate the cost competitiveness of the technology relative to lithium-ion batteries.

$1.2 million to JC Solutions and RCAM Technologies to develop a 3D printed concrete offshore pumped hydro energy storage (PHES) system to integrate with offshore wind facilities to improve grid reliability and provide peak power capacity.

Funding $100,000 for Hydrogen Power Generation: Development of Clean Energy Bridge technology, a proposed technology for reversible fuel cells that can produce and store hydrogen.

$100,000 to ROCCERA: Evaluation and demonstration of a prototype "solid oxide electrolyser" for clean hydrogen production, ready for scale production.

New York State has set a goal of deploying 6GW of energy storage systems by 2030. By 2030, 70% of New York's electricity will come from renewable energy.

This target is actually double the energy storage deployment target originally proposed by former New York Governor Andrew Cuomo. Hochul announced the revised target earlier this year. As a result, the state government is also expected to revise the previously set mid-2025 target (1,500MW of energy storage by 2025).

"We have very ambitious goals, but I know we'll get there because we have no choice when it comes to green hydrogen and enhanced battery storage," Hochul said at the 2022 Advanced Energy Conference in New York City. There are challenges ahead of us, but there is no challenge that cannot be solved by the use of technology, the creation of good jobs, the creation of an entire ecosystem.”

As the industry media reported in April this year, there is great interest in developing projects that meet these goals. Most of the energy storage systems currently deployed in the United States do not last longer than four hours.

Agencies such as the New York State Energy Research and Development Authority (NYSERDA) and the New York State Power Authority (NYPA) have recognized the important role long-duration energy storage systems can play in helping to modernize the state's energy system. The New York State Power Authority (NYPA) says long-term energy storage (LDES) is one of its key long-term strategic priorities.

Another reason to deploy long-duration energy storage (LDES) is that New York City has placed some restrictions on the location of energy storage projects due to its dense population. For example, due to possible safety issues, the project has restricted the deployment of lithium-ion battery energy storage systems in and around buildings.

This has been one of the driving factors behind the $17 million funding opportunity. Only technology that achieves commercial operation is eligible, Hochul said.

This round of financing is aimed at supporting hydrogen, electrochemistry, thermal, mechanical and other types of technologies that can provide cheaper, better performing, more on-site and efficient energy storage systems and contribute to renewable energy integration.