WASHINGTON – Senators Maggie Hassan (D-NH) and Susan Collins (R-ME) introduced the bipartisan Battery Storage Innovation Act to expand access to innovative clean energy storage technology.
Renewable energy sources like wind and solar power can only generate energy when there’s sufficient wind or sun exposure, so battery storage technology is critical to the ability to scale up the use of renewable energy sources and eliminate reliability gaps throughout the day. This bipartisan legislation would expand the Department of Energy’s Loan Guarantee Program to include supporting the deployment of battery storage technology.
“Our bipartisan bill will help support the deployment of the innovative battery storage technology that is needed to expand renewable energy sources like wind and solar and reduce our dependence on fossil fuels,” Senator Hassan said. “I’m grateful to Senator Collins for partnering with me on this effort to help propel our transition to a cleaner, more affordable energy future.”
“Advancing next-generation energy storage technology will allow us to integrate more clean, renewable energy into our homes, businesses, and automobiles,” said Senator Collins. “This bipartisan bill would expand the Department of Energy’s loan program to include residential, industrial, and transportation projects focused on battery storage technologies, providing innovators with the resources they need to utilize these promising technologies.”
The Department of Energy’s Loan Guarantee Program supports the deployment of new clean energy projects, however, these loans cannot currently be used for battery storage technology. The Battery Storage Innovation Act would expand the categories of projects that are eligible for loan guarantees through this program by including a project category for “battery storage technologies for residential, industrial, or transportation applications.”
Companion legislation has been introduced in the U.S. House of Representatives by Representatives Mark Takano (D-CA) and Chris Collins (R-NY).