The latest regulations on energy storage project loan policies

What are the different types of energy storage policies?

Approximately 17 states have adopted some form of energy storage policies, which broadly fall into the following categories: procurement targets, regulatory adaption, demonstration programs, financial incentives, and consumer protections. Below we give an overview of each of these energy storage policy categories.

What is a storage policy?

All of the states with a storage policy in place have a renewable portfolio standard or a nonbinding renewable energy goal. Regulatory changes can broaden competitive access to storage such as by updating resource planning requirements or permitting storage through rate proceedings.

Can LPO finance energy storage projects?

LPO can finance short and long duration energy storage projects to increase flexibility, stability, resilience, and reliability on a renewables-heavy grid. Why Energy Storage?

How will energy storage help a net-zero economy by 2050?

Accelerated by DOE initiatives, multiple tax credits under the Bipartisan Infrastructure Law and Inflation Reduction Act, and decarbonization goals across the public and private sectors, energy storage will play a key role in the shift to a net-zero economy by 2050.

When will the BPU start a grid-connected incentive program?

The BPU expects to launch the grid-connected incentive program in 2026. Consumer protection policies establish rights for customers who install energy storage. Two states have adopted legislation guaranteeing protections to customers who install energy storage.

Why are energy storage resources important?

Energy storage resources have become an increasingly important component of the energy mix as traditional fossil fuel baseload energy resources transition to renewable energy sources. Currently 23 states, plus the District of Columbia and Puerto Rico, have 100% clean energy goals in place.