Energy storage provider Fluence Energy Inc (NASDAQ:FLNC) has narrowed its net loss to USD 12.9 million (EUR 12m) in its second fiscal quarter, from USD 37.4 million a year ago, despite a revenue fall of 11% year-over-year to USD 623.1 million. The company’s gross profit margin rose to 10.3% from 4.4% a year earlier, marking the third consecutive quarter of double-digit gross margins. During the quarter, Fluence launched Gridstack Pro 5000, a larger and more dense 5-MWh enclosure, and recently signed its first contract with potential customers. It is on track to start US battery module production in 2024, which will allow its products to qualify for domestic content incentives under the Inflation Reduction Act. The firm confirmed its full-year revenue guidance of USD 2.7 billion-3.3 billion and adjusted earnings before interest, taxes, depreciation and amortisation of USD 50 million to USD 80 million.
Solar Dominates US Energy Capacity Growth
The Federal Energy Regulatory Commission (FERC) has published data showing that solar accounted for over 75% of US electrical generating
