California energy storage project prices

Why are California's energy storage grants important?

“These grants are really putting a marker around California’s commitment to ensuring we’re going to get long-duration energy storage to complement battery storage on the grid to meet our goals,” CEC Commissioner Patty Monahan said during the agency’s June 12 meeting.

Are California's battery energy storage systems going up?

For Immediate Release: October 24, 2023 SACRAMENTO — New data show California is surging forward with the buildout of battery energy storage systems with more than 6,600 megawatts (MW) online, enough electricity to power 6.6 million homes for up to four hours.

What is the long duration energy storage program?

The Long Duration Energy Storage program will pave the way for opportunities to foster a diverse portfolio of energy storage technologies that will contribute to a safe and reliable future grid. This program plays an important role in achieving California's zero carbon goals.

How do energy storage projects work?

Energy storage projects capture power produced by wind and solar resources and discharge the energy back to the electric grid during times of peak demand. In California, electricity demand is highest in the late afternoon and early evening hours when the sun sets, causing solar resources to drop off before winds pick up later in the evening.

How many MW of energy storage capacity is needed by 2045?

The state is projected to need 52,000 MW of energy storage capacity by 2045 to meet electricity demand. “Energy storage systems are a great example of how we can harness emerging technology to help create the equitable, reliable and affordable energy grid of the future,” said CEC Vice Chair Siva Gunda.

Do you need long-duration energy storage?

“If you want clean, renewable energy every hour of every day of every month of every year, you need long-duration energy storage,” said Julia Souder, executive director of the Long Duration Energy Storage Council, a trade group.