Batteries are a rich form of long-term storage of energy. The electricity demand is constantly fluctuating. But, storing the energy in batteries will ensure that the Electricity Grid meets changing demands. This will ensure that when there is no wind or no sun shines due to cloudy weather; no one is left with their homes dark.
Advancing energy storage is crucial to the U.S energy department and critical to the goal for the clean energy transition. The U.S energy department stated, as more sources of clean energy are added to the grid, it will boost the capacity of the Electricity Grid and reduce the risk of disruptions. The U.S energy department aims to build independent power sources for individual buildings.
That is why the U.S energy department has focused more on energy storage-related research and development activities for many decades now. It has supported the R&D activities through investments and activities like Energy Storage Grand Challenge.The department says it has lowered the prices of energy-storage technologies and made it more commercial-ready.
It has been successful in making the lithium-ion battery cheaper, less than $140/kWh in 2020, which was for $900/kWh in 2011. DOE said it is looking to build that progress in the coming years.The DOE recently announced construction worth $75 million Grid Storage Launchpad in Richland, Washington. The project will house 30 research laboratories. Some of the research laboratories will be having testing chambers for new Electricity Grid storage technologies.