INSIGHTSSERIES
Power & Utilities | Energy Storage
January 8, 2024
Supportive Policies and Technological Advancements Catalyze Grid-Scale Energy Storage
The electric grid system needs a mix of energy storage solutions as the use of renewable energy increases.
As renewables continue to grow in the move towards a low-carbon future, energy storage is critical to mitigate the variability of wind and solar resources and enhance reliability and resiliency of the electric grid. Federal and state actions continue to facilitate the adoption of storage as a key solution…Read the full report
Key Takeaways
- The Internal Revenue Service has proposed rules to implement the advanced manufacturing production credit established by the 2022 Inflation Reduction Act, a boost for long-duration and thermal batteries.
- Michigan has established a goal to deploy 2.5 GW of energy storage by 2030, joining 10 other states that have procurement targets.
- Pennsylvania regulators have unveiled a policy statement setting forth proposed guidelines for the usage of electricity-storage as electric distribution assets in the state.
