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
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