Strata Clean Energy Secures Financing for One of More than 50 Arizona BESS Projects

February 23, 2024--Researched by Industrial Info Resources (Sugar Land, Texas)--In the U.S., battery energy-storage systems (BESS) often accompany solar power, providing power in the evening hours when the sun isn't shining. So, it makes sense that BESS projects will often follow the path of solar power projects. Industrial Info's data lends support to this idea in that the top three states for BESS project investment are Texas, Nevada and Arizona--all of which have strong solar industries. Arizona barely edges out California, which also has a strong solar sector, in terms of investment.

Not all BESS units are built in conjunction with solar farms, however. In the U.S., standalone energy storage became eligible for the clean energy investment tax credit at the start of last year, as part of the Inflation Reduction Act.

Companies featured: Canadian Solar (NASDAQ:CSIQ), Tesla Incorporated (NASDAQ:TSLA)