The investment is expected to create 350,000 jobs across the battery energy storage industry and supports actions taken by the Trump
On Aug. 16, 2022, President Joe Biden signed into law the Inflation Reduction Act of 2022 (IRA), which includes new and revised tax
This blog is part of a series that explores the federal policies and actions needed to deploy next-generation geothermal, sources of nuclear
The energy storage industry has continued to progress over the course of 2024 and into 2025, buoyed in significant part by the federal income
Thermal energy storage (TES) is required to allow low-carbon heating to meet the mismatch in supply and demand from renewable generation, yet domestic
Today''s investment commitment aims to advance a manufacturing expansion in the United States that could enable American-made batteries to satisfy 100% of domestic energy storage project
Since 2022, China has emerged as the global leader in the energy storage market. Currently, there is a noticeable surge in demand for
The energy storage industry is laying the groundwork for a domestic BESS supply chain, building or expanding more than 25 manufacturing facilities for grid-scale energy
The budget reconciliation bill, dubbed "The Inflation Reduction Act of 2022," notably includes an extension and expansion of both the
Figure 2: Cumulative installed capacity of new energy storage projects commissioned in China (as of the end of June 2023) In the first half of
Tax-Exempt Entities and the Investment Tax Credit (§ 48 and § 48E) Tax-exempt and governmental entities, such as state and local governments, Tribes, religious organizations,
In May of this year, its wholly-owned subsidiary collaborated with Energy, an Italian company, in a joint investment for the construction of an energy storage plant—a groundbreaking move for
Figure 2: Cumulative installed capacity of new energy storage projects commissioned in China (as of the end of June 2023) In the first half of 2023, China''s new
Dive Brief: The U.S. energy storage industry will invest $100 billion over the next five years to build and buy batteries made in the United States, the American Clean Power
As electricity prices normalize, the ongoing decrease in investment costs for PV and energy storage systems is expected to further stimulate local demand for green energy
America could be a Global Leader in Grid Battery Manufacturing The industry is in the process of building 25 new or expanded manufacturing facilities to support the grid-scale energy storage
The energy storage industry is making significant progress in laying the groundwork for a domestic battery energy storage supply chain, building or expanding more
The U.S. Department of the Treasury released additional guidance on the Inflation Reduction Act''s domestic content tax credit bonus for
2. Technical bottleneck: long-term energy storage and cycle life. The current mainstream lithium battery energy storage system generally faces the limitation of short-term
The economic effect of energy storage construction has received increasing attention in recent years, as the use of renewable energy sources has grown, and the need for reliable and
U.S. battery storage capacity has been growing since 2021 and could increase by 89% by the end of 2024 if developers bring all of the energy storage systems they have
Disclaimer This resource from the U.S. Department of Energy (DOE) Solar Energy Technologies Office (SETO) provides an overview of the federal investment and production tax credits for
Australian energy minister Chris Bowen (left) on a recent visit to Wallgrove BESS, a 50MW/75MWh project in Western Sydney. Image: Transgrid. Nearly double the
A coalition of companies making and using large batteries for energy storage on the electric grid announced Tuesday a $100 billion investment commitment to make and buy
On January 16, 2025, the U.S. Department of the Treasury and IRS released updated guidance known as the First Updated Elective Safe Harbor on the domestic content bonus credit. This
"The economics are straightforward but challenging," explained an energy storage financial analyst. "Battery projects struggle to meet the 15%
The Inflation Reduction Act (IRA) signed into law in August significantly improves the economics for large-scale battery storage projects in
This announcement aligns with actions taken by the Trump Administration to unleash American energy and develop critical minerals in the
On the other side of the coin, abundant residential energy storage systems and modular installation methods accelerate project construction. In the utility-scale energy storage
