Navigating energy storage financing amidst rising
Battery energy storage projects face distinct technical challenges that complicate their development and financing. A key
Members of the US energy industry has committed to investing $100 billion over the next five years to build and buy American-made batteries for large, utility-scale deployments of battery energy storage systems (BESS).
250 MW Sierra Estrella BESS project in Avondale, AZ; via SRP. Battery energy storage just makes sense – and it's being leveraged in smart ways by companies like Zenobē, who are using smart BESS deployments to help hold down ratepayer costs while improving grid resilience and reliability.
For battery storage technologies in particular, safety requirements should adequately address fire risks. Battery fires for utility-scale systems can be especially dangerous, and those concerns are only compounded as battery chemistries evolve to incorporate higher-energy densities and operate at higher temperatures.
This is particularly true for battery energy storage, which has a relatively small footprint and can often be developed by utilities on utility-owned land that is immediately adjacent to substations and where such energy storage resources may have incremental value in terms of deferring upgrades.
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