The U.S. Energy Department announced the closing of a $504.4 million loan guarantee for a hydrogen storage project to be developed by Mitsubishi Power Americas and Magnum Development in Utah. The loan will be utilized to develop the largest clean hydrogen storage facility in the world. This marks the department’s first loan guarantee for a…...
The U.S. Energy Department’s Loan Program Office issued a request for information on June 1 to update and improve its Title XVII Innovative Technologies Loan Guarantee Program intended to support early commercial use of advanced technologies. The agency seeks feedback from various stakeholders including developers, investors, government agencies, academia, and impacted communities. The input will…...
The U.S. Energy Department on May 12 published a request for information seeking input on long-duration energy storage that could power the grid for at least ten hours. The 2021 Infrastructure Investment and Jobs Act provides $505 million in funding towards the Long Duration Energy Storage for Everyone, Everywhere Initiative. To achieve a carbon-free electric…...
Energy storage is evolving to be an essential part of the energy transition given its ability to provide power on demand and optimize grid performance amid the proliferation of intermittent renewable energy resources.
The Department of Public Service (DPS) on April 4 released the third State of Storage report affirming expansion in reaching New York’s energy storage target of 3 gigawatts (GW) by 2030, with a provisional objective of utilizing 1.5 GW by 2025. As of the end of 2021, total utilised and awarded projects increased 4 percent…...
