US DOE Invests in Developing Energy Storage Technology

Cars21.com - US DOE awards $620 million in a second round of funding towards the development of various energy storage projects that will extend the life time of used EV lithium batteries and will highlight how to integrate larger numbers of EV’s into the grid.

Secretary Chu announced the funding on Tuesday, 24 November, in Columbus Ohio with the intent of creating a smarter and more efficient energy grid that will be able to integrate the new technologies of the future, EV’s. The 32 demonstrations are pioneering projects that will act as ‘models for deploying integrated Smart Grid systems on a broader scale’. This funding from the American Recovery and Reinvestment Act will be leveraged with $1 billion in funds from the private sector to support more than $1.6 billion in total Smart Grid projects nationally.