[SMM Analysis] US Department of Energy (DOE) Releases Energy Storage Strategy and Roadmap to Advance Next-Generation Energy Storage Technologies

Published: Dec 31, 2024 09:27

Source: SMM

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The US Department of Energy (DOE) recently released its Energy Storage Strategy and Roadmap, aiming to advance the development, commercialization, and utilization of next-generation energy storage technologies. The DOE's Loan Programs Office (LPO) has announced over $70 billion in conditional commitments and closed loans to support innovative energy and clean energy supply chain technology projects, as well as reinvestment in existing energy infrastructure.

Despite some concerning signs, the DOE's current Energy Storage Grand Challenge roadmap aims to accelerate the development, commercialization, and utilization of next-generation energy storage technologies. Reports indicate that energy storage will continue to receive political support, particularly as many investments in battery manufacturing are located in traditionally Republican states.

Earlier this month, the DOE's LPO completed $56.02 billion in conditional commitments and closed loans. Subsequently, it announced conditional commitments totaling over $73 billion for a thermal energy startup and utility companies in California, Wisconsin, and Puerto Rico.

The DOE's 2024 Strategic Roadmap (SRM), building on the 2020 Energy Storage Grand Challenge roadmap, outlines strategic, beneficial, and timely storage deployment actions. The SRM emphasizes that the motivation for investing in energy storage is to ensure that "the American people have the resources they need when they need them."

The DOE will guide its storage activities through three strategic objectives:

1. Facilitate the safe and reliable deployment of energy storage technologies and accelerate the development of new technologies to meet current and future consumer needs.
2. Enhance decision-makers' ability to make informed decisions regarding energy storage investments, policies, and goals by providing unbiased, fact-based information and analysis.
3. Leverage the DOE's leadership in the global energy storage community to accelerate the pathway from innovation to commercialization through effective and enduring engagement in an innovation ecosystem, benefiting all Americans.

The SRM also proposes eight strategies to support these objectives:

1. Invest in long-term foundational and responsible energy storage technology research.
2. Strategically position high-impact use cases for energy storage technologies.
3. Improve cost assessments for energy storage implementation.
4. Clarify value propositions by developing valuation assessments and compensation mechanisms.
5. Enhance the safety and reliability of energy storage technologies.
6. Improve equitable access to energy storage technologies to meet the needs of existing and emerging communities.
7. Strengthen and achieve a reliable, resilient, economic, diverse, sustainable, and secure domestic energy storage supply chain, including critical minerals and materials as well as circular economy efforts, contributing to expanded US manufacturing and employment.
8. Collaborate across DOE programs, mission areas, and external stakeholders.

These strategies are part of what the DOE refers to as the "energy storage ecosystem." Provided charts illustrate this "ecosystem."

Although the future of the DOE's LPO remains uncertain, the SRM demonstrates that the department is heavily focused on energy storage research and innovation, providing factual information about technologies that could influence its future role in the energy market.

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