"DOE Invests $325M in Long-Duration Storage for Clean Electricity"
TL;DR Summary
The US Department of Energy (DOE) has awarded $325 million in funding to support the development of long-duration storage technologies. The funding will be used to finance projects such as a pumped thermal energy storage system in Alaska and the installation of iron-air batteries at retiring coal plants in Colorado and Minnesota. The DOE aims to demonstrate the viability and replicability of these technologies to attract private investment and utility support. The projects are expected to take four to five years for permitting, design, and construction, but the DOE is eager to expedite the process and encourage follow-on projects.
Topics:business#doe-funding#energy#iron-air-batteries#long-duration-storage#pumped-thermal-energy-storage#renewable-energy
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