In the news

Long-duration energy storage to get $350M boost from Dept. of Energy

15 Nov, 2022

  • The Department of Energy (DOE) has earmarked $350 million to support demonstration projects in long-duration energy storage, which could revolutionize the power sector by making renewable energy available even when the sun isn’t shining or the wind isn’t blowing.
  • These projects aim to deliver electricity for 10 to 24 hours or longer, reducing carbon emissions while ensuring grid reliability.
  • This funding, provided under the Bipartisan Infrastructure Law, covers up to half the construction cost for 11 selected projects.
  • Companies like Form Energy, ESS, Energy Dome, and Hydrostor are among those leading the charge in developing innovative storage solutions.
  • Despite past challenges, the DOE funding could accelerate market acceptance by demonstrating the viability of these technologies.

Read more

 

Share