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US Energy Dept. to Make $505M Available for Energy Storage

May 12, 2022, 6:20 PM

The Energy Department is making $505 million available to lower the cost and increase the availability of long-duration energy storage technology, according to statement.

  • Agency is seeking public input into eligibility and implementation of the funding, which was made available through the bipartisan infrastructure law
  • NOTE: Energy Dept. targets a levelized cost of energy storage of $0.05/kWh by 2030, a 90% reduction from 2020 baseline costs

To contact the reporter on this story:
Ari Natter in Washington at anatter5@bloomberg.net

To contact the editors responsible for this story:
Catherine Traywick at ctraywick@bloomberg.net

Maria Luiza Rabello

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