Manufacturing | Energy Storage
This historic investment commitment aims to advance manufacturing of American-made batteries to satisfy 100% of domestic energy storage project demand by 2030.
Courtesy of Salt River Project 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 Association and company representatives said Tuesday.
The industry's $100 billion commitment to support domestic energy storage production “demonstrate [s] what success can look like,” ACP CEO Jason Grumet said in the briefing. Right now, he added, many industry players are in a holding pattern until more clarity develops around tax and trade policy.
The commitment “represents a clear pathway to supplying 100% of U.S. energy storage projects with American-made batteries by 2030,” but depends on a “streamlined permitting environment” and predictable tax and trade policy, ACP said.
The stationary storage industry's fortunes improved further with the August 2022 enactment of the Inflation Reduction Act, which included billions in federal tax credits for clean energy manufacturing, deployment and generation.
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