In March 2025, Cenovus Energy announced a surprising 15% budget reallocation toward battery storage pilot projects across Alberta. This move comes as Canada's third-largest oil producer grapples with mounting pressure to diversify beyond fossil fuels. But can a company rooted in oil sands operations realistically compete in the solar storage arena? Let's unpack this energy transition puzzle.
As we approach Q2 2025, the solar industry's facing a sort of paradox - panel costs dropped 80% since 2010, yet energy storage systems still struggle with upfront pricing barriers. The average commercial solar+storage installation now runs at $2.10 per watt, with panels accounting for 34% of total costs according to the 2024 Global Solar Market Report.
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