The latest national subsidy policy for energy storage

The latest national energy storage subsidy policy in the United States includes up to $325 million for 15 projects across 17 states and one tribal nation to accelerate the development of long-duration energy storage technologies1. Additionally, energy storage installations that begin construction after December 31, 2024, will be entitled to credits under the technology-neutral Investment Tax Credit (ITC)2. [pdf]

FAQs about The latest national subsidy policy for energy storage

How can the government support research and development in energy storage technologies?

To address the need for long-term research and development in energy storage technologies, collaboration between academia and industry will be necessary. The government may establish a Nodal Agency to coordinate R&D efforts in the field, and funding will be provided through this agency.

Can energy storage systems be operated economically today?

According to the BMWK, it is already possible to operate energy storage systems economically today due to the privileges for energy storage systems. The framework conditions for a market-driven ramp-up are also basically right. Nevertheless, there are still numerous factors that can limit the ramp-up of energy storage systems:

How much energy storage is needed In 2047?

3.3. CEA has projected that by the year 2047, the requirement of energy storage is expected to increase to 320 GW (90GW PSP and 230 GW BESS) with a storage capacity of 2,380 GWh (540 GWh from PSP and 1,840 GWh from BESS) due to the addition of a larger amount of renewable energy in light of the net zero emissions targets set for 2070.

What is a €416 million subsidy?

The funds are part of a €416 million subsidy program announced last year to alleviate grid congestion. The authorities in the Netherlands have allocated €100 million in subsidies to the deployment of battery storage with solar projects for next year, as the country continues to struggle with a lack of power flexibility and grid limitations.

Should energy storage systems be included in Germany's power plant strategy?

The power plant strategy for hydrogen-capable power plants recently presented by the German government also emphasises that storage systems should be included. Exemption from grid charges The BMWK's comments express sympathy for the continuation of the current grid fee exemptions for energy storage systems.

How to maintain quality and standards for battery energy storage systems?

6.10.1. In order to maintain quality and standards for Battery Energy Storage Systems, the Central Government may consider issuing an "Approved List of Models and Manufacturers (ALMM) for BESS" for power sector applications, similar to the list of ALMM for Solar Photovoltaic Modules issued by the Ministry of New and Renewable Energy (MNRE).