The American energy storage sector kicked off 2016 with a marked increase in corporate investments, according to GTM Research and the Energy Storage Association’s latest U.S. Energy Storage Monitor. First-quarter investments of $79 million marked an increase of more than double compared to the same period last year. Of that money, $20 million came as project financing. It’s worth noting that with a relatively small number of disclosed deals each year (39 in 2014 and 32 in 2015), a few big investments can significantly sway the quarterly tally. The largest of the 11 disclosed deals from Q1 2016, the Series C investment in Sunverge by Australian energy retailer AGL Energy and Japanese trading house Mitsui, totaled $36.5 million. That’s almost half of all corporate investments for the quarter. Still, the numbers indicate there is more growth to come, said Ravi Manghani, GTM Research’s director of energy storage and lead author of the report.
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