On Monday, Gov. Charlie Baker, R-Mass., signed into law a bill to further diversify Massachusetts’ power mix with clean energy resources. Although it focuses mainly on large procurements of offshore wind and hydropower, the legislation also includes a significant provision authorizing an energy storage procurement goal.

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Advanced Energy Storage Systems Market size may reach USD 7.17 billion by 2022; according to a new research report by Global Market Insights, Inc.

Increasing power consumption, driven by residential, commercial and infrastructure needs in BRIC economies accompanied by favourable regulatory compliances to use electric vehicles are key factors stimulating global advanced energy storage systems market size growth. Asia pacific is forecast to witness highest gains at 15.8% CAGR up to 2022. Rising industrialization accompanied by enhanced consumer lifestyle in India and China are major reasons foster regional growth.

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Amid falling profits and long-term questions, global oil “supermajors” need to follow in the footsteps of France-based Total – which recently bought energy storage company Saft for $1 billion – and explore opportunities not only in batteries, but also in solar and distributed generation, according to a new report from Lux Research.

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When Elon Musk unveiled his intent to acquire the solar installer SolarCity, many observers and investors balked.

Some have wondered if the deal amounts to nothing more than a bailout for the Musk-supported SolarCity at Tesla’s expense. After all, what does a car company have to do with putting modules on people’s roofs? The business models are very different.

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SEOUL, South Korea, Aug. 8, 2016 /PRNewswire/ — Kokam Co., Ltd, the world’s premier provider of innovative battery solutions, today announced that South Korea’s largest utility, Korea Electric Power Corporation (KEPCO) (NYSE: KEP), has awarded it a contract to develop a 36-megawatt (MW) system / 13-megawatt hour (MWh) Energy Storage System (ESS) for frequency regulation at the Non-Gong substation in South Korea. The project features a combination of two unique Kokam Lithium Ion battery technologies — its Ultra High Power Nickel Manganese Cobalt (NMC) battery technology and its NANO battery technology. Work on the project began in June 2016 and is scheduled to be completed by December of 2016.

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The energy-storage market will go “ballistic” in the final two months of this year, Tesla Motors CEO Elon Musk said Wednesday, when the company ramps up production of batteries he promises will be “head and shoulders above anything else I’ve even heard announced as future plans from other companies.”

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