Can New England states support large-scale transmission & energy storage infrastructure?

BOSTON — A coalition of New England states jointly submitted two applications to secure federal funding to support investments in large-scale transmission and energy storage infrastructure to enhance grid reliability and resilience across the region.

What is energy storage?

Energy storage encompasses an array of technologies that enable energy produced at one time, such as during daylight or windy hours, to be stored for later use. LPO can finance commercially ready projects across storage technologies, including flywheels, mechanical technologies, electrochemical technologies, thermal storage, and chemical storage.

How will energy storage help a net-zero economy by 2050?

Accelerated by DOE initiatives, multiple tax credits under the Bipartisan Infrastructure Law and Inflation Reduction Act, and decarbonization goals across the public and private sectors, energy storage will play a key role in the shift to a net-zero economy by 2050.

Which energy storage project uses lithium-ion battery storage technology?

The electro-chemical battery storage project uses lithium-ion battery storage technology. The project was announced in 2019 and will be commissioned in 2021. The project is owned and developed by Florida Power & Light. Buy the profile here. For more details on the latest energy storage projects, buy the project profiles here.

Why is energy storage important?

Energy storage serves important grid functions, including time-shifting energy across hours, days, weeks, or months; regulating grid frequency; and ensuring flexibility to balance supply and demand.

What is the difference between manufacturing and deployment of energy storage systems?

Manufacturing: Projects that manufacture energy storage systems for a variety of residential, commercial, and utility scale clean energy storage end uses. Deployment: Projects that deploy residential, commercial, and utility scale energy storage systems for a variety of clean energy and clean transportation end uses.