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Wall Street wants in on America’s battery storage boom

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Wall Street wants in on America’s battery storage boom

Entrepreneur Sheldon Kimber is capitalizing on the surging power demand and extreme weather events by installing giant batteries in California and Texas. These batteries charge using solar power during the day and sell the stored energy at higher prices during periods of increased electricity demand. Kimber's company, Intersect Power, is raising $837 million in debt and equity for battery storage projects in Texas, which will house 258 Tesla Megapack batteries. The battery storage sector is experiencing rapid growth fueled by the increasing adoption of solar energy and investments from Wall Street. However, challenges such as potential advancements in battery technology and permitting issues may hinder growth in the sector.

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