The world’s largest lithium ion battery has begun dispensing power into an electricity grid in South Australia. The 100-megawatt battery, built by Tesla, was officially activated on Friday. It had in fact provided some power since Thursday due to demand caused by local hot weather. South Australia has been crippled by electricity problems in recent times. Tesla boss Elon Musk famously vowed to build the battery within 100 days – a promise that was fulfilled.
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Battery storage technology costs will have to fall by a further 30% before projects are feasible without lucrative frequency response revenue, a leading investor has said. Speaking during yesterday’s Renewable Futures event organised by Regen, Katherine Vinnicombe, investment manager at Foresight Group, made the remark amidst a discussion centring around potential disruptors in the UK energy market. Foresight has been one of the early investors in battery storage assets, buying up two projects backed by Enhanced Frequency Response contracts.
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