Stem, one of the leading providers of commercial energy-storage systems, just added $100 million in new financing from energy infrastructure investor Starwood Energy Group. Stem’s project financing resources now top $350 million.
It’s going to take many billions in project financing to move the energy storage market from nascent to material — and Stem now leads in the ability to direct capital to commercial behind-the-meter storage projects. The deployments aim to combine big data, analytics and energy storage to benefit the ratepayer as well as the grid operator.
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