November 15 (Renewables Now) - The US Department of Energy (DoE) on Monday launched a USD-350-million (EUR 339m) funding opportunity for long-duration energy storage demonstration projects.
The department expects to back up to 11 projects demonstrating storage technologies that can provide electricity for 10 to 24 hours or more. It will fund up to 50% of the cost of individual projects.
“Advancing energy storage technologies is key to making energy generated from clean renewable resources -- like wind and solar—available for 24/7 use, and is critical to achieving a decarbonised power grid and reaching President Biden’s ambitious climate goals,” commented US Secretary of Energy Jennifer M Granholm.
The move is part of DoE’s efforts to reduce the cost and increase the duration of energy storage. It has a goal of cutting the cost of grid-scale energy storage by 90% in the current decade.
The programme is part funded by the Bipartisan Infrastructure Law.
Interested parties must submit letters of intent by December 15, 2022 and full applications by March 3, 2023. Award negotiations are expected to take place in the autumn of 2023. DoE could also announce additional funding opportunities to validate and accelerate commercialisation of long-duration energy storage technologies.
(USD 1 = EUR 0.969)