Energy Storage, Regulation, Utilities - June 30, 2023
DOE signs MOU to Accelerate Long-Duration Energy Storage
The U.S. Department of Energy (DOE) along with its Office of Technology Transitions (OTT), the Edison Electric Institutes’ Institute for the Energy Transition, Electric Power Research Institute (EPRI), and the Long Duration Energy Storage Council (LDES Council) signed a Memorandum of Understanding (MOU) to accelerate the commercialization of long-duration energy storage (LDES).
The aim of the partnership is to fortify the electric grid, support domestic manufacturing, and promote the comprehensive integration of renewable energy sources into the U.S. energy mix.
The signed MOU establishes three pillars for collaboration to support the development and domestic manufacture of energy storage technologies that can meet all U.S. market demands by 2030, including the DOE’s Long Duration Storage Shot, which establishes a target to reduce the cost of grid-scale energy storage by 90% for systems that deliver 10+ hours of duration within the decade.
“This critically important MOU and the partnership it represents will help to swiftly move the market towards the ambitious goals that DOE has established for long-duration energy storage and aligns key industry stakeholders around a set of goals and objectives that will certainly impact our clean energy trajectory,” said Anna J. Siefken, Senior Advisor and LDES industry engagement lead, in a statement.
Over the coming months, the MOU will result in actions including the creation of opportunities to leverage key findings from DOE’s Long Duration Energy Storage Liftoff report; the initiation of engagements with industry stakeholders to share insights and expertise and then outline collective ideas to address barriers; highlighting and mapping of LDES technologies that are moving from innovation and pilot to market maturity and scale; and the hosting of an industry-focused LDES technical summit in 2024.