Business models for grid-connected energy storage are being solidified around the world, leading to accelerated growth. In addition, “co-location” projects—pairing battery storage with renewable generation—are an increasingly attractive option for developers because of the flexibility and added value they place on generation assets. What are the business models unlocking new growth for this sector? What are the optimal combinations of renewables and storage being taken by developers to deliver the most resilient and reliant hybrid systems? How will the co-location trend continue to evolve to meet the needs of flexible, bidirectional grids of the future?