- Press Releases
May 13 (Renewables Now) - The US Department of Energy (DOE) on Thursday asked for public input on the structure of a USD-505-million (EUR 485m) initiative to advance long-duration energy storage.
The Long Duration Energy Storage for Everyone, Everywhere Initiative is a result of the Bipartisan Infrastructure Law and will invest USD 505 million over four years. It is intended to lower the costs and increase the duration of energy storage resources and ultimately facilitate the US' 100% clean electricity goal by 2035. Longer duration storage is needed as renewables on the grid and electrification will continue to increase.
DOE will run three programmes -- demonstration, validation and piloting -- as part of the initiative. It is accepting comments by June 16.
Separately on Tuesday, DOE launched a USD-2.5-billion fund to upgrade and build new transmission lines. It issued a request for information (RFI), looking for comments on the structure of the Transmission Facilitation Programme (TEP).
This revolving fund programme will feature three financing tools -- loans from DOE; DOE participation in public-private partnerships; and capacity contracts with eligible projects. The programme is one of the first down payments on more than USD 20 billion of investments under DOE’s Building a Better Grid Initiative, the department said.
“Expanding and strengthening our power grid means we can get Americans power where and when they need it most, and in so doing deploy the clean energy we need to reach our climate goals and ultimately bring down energy costs,” commented US Secretary of Energy Jennifer M Granholm.
(USD 1 = EUR 0.961)