Nov 4, 2024 · Estonian renewable power and heat producer Utilitas has inaugurated the first utility-scale battery energy storage system (BESS) in Latvia, a 10-MW/20-MWh facility. Battery
Feb 18, 2025 · A growing demand in the energy market for battery energy storage system (BESS) technologies is developing currently, and the trend is expected to remain stable in the future.
May 1, 2025 · Distributed thermal monitoring of lithium ion batteries with Rechargeable lithium-ion batteries (LiB) are extensively employed to underpin the design of energy storage systems
Nov 5, 2024 · Utilitas, an Estonian renewable energy producer, has launched Latvia''s first utility-scale battery energy storage system (BESS) with a capacity of 10 MW/20 MWh in Ventspils.
Mar 1, 2017 · The electric vehicle (EV) technology addresses the issue of the reduction of carbon and greenhouse gas emissions. The concept of EVs focuses on the utilization of alternative
On November 1 Latvia’s largest wind energy producer Utilitas Wind opened the first utility-scale battery energy storage battery system in Latvia with a total power of 10 MW and capacity of 20 MWh in Targale, Ventspils region.
I am pleased that the bar has been set high for developers of new wind farms, which also plays an important role in the context of Latvia’s energy security,” said Climate and Energy Minister of Latvia, Kaspars Melnis. Given the total investment in the project, the OP Corporate Bank provided loan financing.
The innovations and infrastructure of Latvenergo will not only strengthen the security of supply but also the development of the Baltic region.” BESS, or Battery Energy Storage System, is a technology that allows electricity to be stored with the objective of feeding it back into the grid at times of peak demand.
Battery systems play a crucial role in balancing the production volumes of Latvenergo and improving the flexibility of consumption. Chief Financial Officer of Latvenergo Guntars Baļčūns: “This investment in battery systems is an important step in the development of our energy sector and long-term sustainability.
Therefore, in the generation portfolio of Latvenergo, alongside hydro power plants (installed capacity ~1550 MW), combined heat and power plants (~1050 MW) and solar and wind capacities under development, we planned to build a BESS which will ensure synergy with the generation and sales portfolio of Latvenergo.
The global residential solar storage and inverter market is experiencing rapid expansion, with demand increasing by over 300% in the past three years. Home energy storage solutions now account for approximately 35% of all new residential solar installations worldwide. North America leads with 38% market share, driven by homeowner energy independence goals and federal tax credits that reduce total system costs by 26-30%. Europe follows with 32% market share, where standardized home storage designs have cut installation timelines by 55% compared to custom solutions. Asia-Pacific represents the fastest-growing region at 45% CAGR, with manufacturing innovations reducing system prices by 18% annually. Emerging markets are adopting residential storage for backup power and energy cost reduction, with typical payback periods of 4-7 years. Modern home installations now feature integrated systems with 10-30kWh capacity at costs below $700/kWh for complete residential energy solutions.
Technological advancements are dramatically improving home solar storage and inverter performance while reducing costs. Next-generation battery management systems maintain optimal performance with 40% less energy loss, extending battery lifespan to 15+ years. Standardized plug-and-play designs have reduced installation costs from $1,200/kW to $650/kW since 2022. Smart integration features now allow home systems to operate as virtual power plants, increasing homeowner savings by 35% through time-of-use optimization and grid services. Safety innovations including multi-stage protection and thermal management systems have reduced insurance premiums by 25% for solar storage installations. New modular designs enable capacity expansion through simple battery additions at just $600/kWh for incremental storage. These innovations have improved ROI significantly, with residential projects typically achieving payback in 5-8 years depending on local electricity rates and incentive programs. Recent pricing trends show standard home systems (5-10kWh) starting at $8,000 and premium systems (15-20kWh) from $12,000, with financing options available for homeowners.