DOE launches $350M funding opportunity for long-duration energy storage projects
The U.S. Department of Energy (DOE) announces a $350 million funding opportunity for emerging long-duration energy storage (LDES) demonstration projects.
LDES projects are those that are capable of delivering electricity for 10 to 24 hours or longer to support a carbon-free electric grid when energy generation is reduced or unavailable.
The need for reliable LDES is increasingly important as the United States moves towards a carbon-free electric grid that relies more on diverse renewable energy generation. However, today’s energy storage technologies are not sufficiently scaled or affordable enough to support the broad use of renewable energy on the electrical grid. That said, longer duration energy storage can increase community involvement in local power systems, build resilience for communities, and minimize power grid disruptions.
“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 decarbonized power grid and reaching President Biden’s ambitious climate goals,” U.S. Secretary of Energy Jennifer Granholm said. “DOE is taking huge steps to lower the cost and increase the duration of energy storage technologies so that clean, reliable, affordable electricity is available whenever and wherever to everyone, especially Americans living in remote and underserved communities.”
The $350 million LDES Demonstrations Program – funded in part by the Bipartisan Infrastructure Law — will be managed by DOE’s Office of Clean Energy Demonstrations (OCED). It will fund up to 11 demonstration projects that will contribute to the Department-wide goal of reducing the cost of grid-scale energy storage by 90 percent within the decade. The DOE will fund up to 50 percent of the cost of each project to catalyze impactful LDES demonstrations.
Interested parties for this funding opportunity should send a letter of intent by Dec. 15 with full applications due by March 3, 2023.
