Long Duration Energy Storage Program
The LDES program, in part, leverages funding made available through the California Climate Investments initiative, and is aligned with its goals of prioritizing
Toronto-based long-duration energy storage (LDES) developer and operator Hydrostor has reached a conditional commitment for a loan guarantee of up to $1.76 billion with the DOE's Clean Energy Financing Program, the largest-ever loan offered to support an LDES technology.
The Long-Duration Energy Storage portfolio helps to advance LDES systems toward widespread commercial deployment. The goal of this portfolio is to fund projects that will overcome the technical and institutional barriers that exist for deployment, with a focus on different technology types for a diverse set of regions.
Battery storage contracts (whether for standalone storage projects or solar or wind projects paired with storage) typically include a fixed-price payment for resource adequacy attributes. Retains operational control of the battery storage facility and the right to collect and retain revenue from sales of electricity discharged from the battery.
From providing critical backup power during natural disasters to supporting more renewable energy coming online, energy storage technologies make the grid more flexible and resilient. Today's energy storage technologies are not sufficiently scaled or affordable enough to meet energy demand that fluctuates throughout the day and night.
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