New installations last quarter more than doubled from 2021 to 2,608 MWh, a Q2 record, according to Wood Mackenzie.State of play: Energy storage is booming, in turn driving demand for inverters. They convert the DC power that's stored in batteries or generated by solar panels into the AC power that's used by the grid.It runs an engineering and sales office in Helsinki that will serve the European market.Ĭatch up fast: Inverters are a linchpin of the energy transition, helping regulate energy generation and storage, particularly at grid-scale.

EPC is opening a second factory on the East Coast later this year.Terms of the agreement with Goldman and Cleanhill, a private equity firm, were not disclosed.The company has sold more than 2 GW of inverters to date. What's happening: EPC Power, which has a factory and its HQ in the San Diego area, makes a critical energy-conversion component known as an inverter. But the incentives will accelerate the company's planned expansion. The IRA didn't trigger the acquisition, EPC president and CEO Devin Dilley tells Axios.New storage incentives in the Inflation Reduction Act will only accelerate this trend. Get free online access to maps of former and current thunderstorms. Why it matters: Energy-storage deployment is booming, especially for grid-scale systems. See lightning strikes in realtime nearby your area. Goldman Sachs Asset Management and Cleanhill Partners have acquired a majority stake in EPC Power, a maker of power conversion systems for energy storage and solar PV systems.

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