The European Union (EU) Commission has approved a state aid scheme aiming to fund the rollout of over 9GW/71GWh of energy storage in Italy. The scheme totalling €17.7 billion (US$19.5 billion) will provide annual payments covering investment and operating costs for those developing, building and operating large-scale energy storage in Italy. [pdf]
[FAQS about Italian electric energy storage subsidies]
On 7 December 2021, KfW Development Bank, the National Planning Commission and NamPower signed a grant agreement for 20 million Euro (approx. 400 million NAD) towards the implementation of the first utility scale Battery Energy Storage System (BESS) in Namibia, and the Southern African region at large. [pdf]
Through at least 2025, the Inflation Reduction Act extends the Investment Tax Credit (ITC) of 30% and Production Tax Credit (PTC) of $0.0275/kWh (2023 value), as long as projects meet prevailing wage & apprenticeship requirements for projects over 1 MW AC. [pdf]
[FAQS about Energy storage 2025 subsidies]
The Inflation Reduction Act (IRA) signed into law in August significantly improves the economics for large-scale battery storage projects in the U.S. For the first time, standalone storage systems will be eligible for a 30 percent investment tax credit (ITC) — and up to 70 percent with additional incentives. [pdf]
[FAQS about Energy storage subsidies introduced]
Methanol is stored in tanks until required as a backup for shortfalls in renewable power generation; Methanol and oxygen are burned in the Allam cycle to generate power; and Surplus carbon dioxide loops back to step No. 2, where it is used to synthesize more methanol. [pdf]
[FAQS about Methanol fuel energy storage]
The Government, through the Australian Renewable Energy Agency (ARENA), is providing $100 million in grants for large-scale battery energy storage projects of 70MW or larger to provide essential system stability services to the electricity grid. [pdf]
[FAQS about Australia energy storage subsidies]
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