ENERGY »» ELECTRICITY »» ENERGY STORAGE »» May 31, 2021

Due to inclement weather and nighttime, solar and wind energy are intermittent sources of energy compared to fossil fuels which are easy to transport and store – giving generators more control over the rate of energy produced. As renewable energy sources become common on the electrical grid, there is a growing need to store clean energy. Energy storage provides greater grid flexibility because distributors can buy electricity during off-peak hours when energy is cheap and sell it to the grid when there is greater demand. Batteries can respond to large fluctuations in demand, making the grid more responsive and reducing the need to build backup power plants. The effectiveness of an energy storage system is determined by how quickly it can react to demand, the rate of energy lost in the storage process, its overall energy storage capacity, and how quickly it can be recharged. It is estimated that the world needs 266 GW of additional energy storage by 2030, up from 176.5 GW in 2017 – at a cost of about $620 billion. Proposed Legislation: H.R.2986 - BEST Act (116th Congress) Prospective Sponsor: Rep. Bill Foster (IL)