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.