President Obama has issued a report recommending energy storage systems be made a priority for investment in the US to achieve grid resilience.
The White House report stressed the value of investment to modernise the country’s national grid and how the inclusion of energy storage would make it more reliable.
The Electricity Storage Association (ESA) has been working with the Administration, Department of Energy Secretary Moniz and other stakeholders to highlight the benefits offered by energy storage. Brad Roberts, Executive Director of the ESA, said: “This is the latest in a succession of positive developments that underscore the importance of storage to a better and more balanced energy future.”
The White House Report stresses the importance of strengthening the power network in the light of storms like Hurricane Sandy. The cost of weather-related power outages was estimated to be up to US$70 billion in 2012. To safeguard against such outages, US$4.5 billion has been allocated by The Recovery Act to invest in smart grid technologies. The report concludes that the US needs a multi-dimensional strategy, including developing a smarter, more resilient grid, to ensure the welfare of people dependent on the grid for reliable power.
Alongside this support from the White House, the ESA is lobbying to support a newly introduced bill in the US Congress, which is part of legislation surrounding energy storage to create investment tax credit for all types of energy storage technology.
Called the Storage Technology for Renewable and Green Energy (STORAGE) Act, it will benefit anyone who is investing in energy storage technology by way of investment tax credit (ITC) and clean renewable energy bonds (CREBS) up to US$1.5 billion.
To view the full report, visit http://energy.gov/sites/prod/files/2013/08/f2/Grid%20Resiliency%20Report_FINAL.pdf