California’s long storage call shines spotlight on support gaps

• The Biden administration is bolstering support for long-duration energy storage (LDES) as crucial for maximizing wind power and achieving decarbonization.
• California’s renewable energy goals underscore the rising demand for LDES solutions, prompting calls for market reward mechanisms.
• However, current policies favor short-duration storage, hindering the growth of LDES technologies like our compressed air storage.
• Proposed measures like investment tax credits (ITCs) aim to improve project economics, but clarity on reward mechanisms remains crucial.
• Despite challenges, investor interest in LDES is growing, with our planning a major project in California.
• R&D efforts and infrastructure funding aim to drive down costs and scale up LDES technologies, essential for meeting future energy demands and achieving climate targets.

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