31 May BPC Action Supports the Better Energy Storage Technology (BEST) Act in Energy and Environment
Washington, D.C.— BPC Action commends Reps. Steve Knight (R-CA) and Bill Foster (D-IL) for introducing H.R.5610, the Better Energy Storage Technology Act, which aims to increase the development of grid-scale energy storage.
Focused federal efforts in energy research have extraordinary potential to spark our economy and increase America’s energy leadership. Breakthroughs in energy technology at the Department of Energy have created jobs and enhanced the competitiveness of critical industries like manufacturing, while making American energy systems more affordable, reliable and clean.
Our current electricity grid is expensive to maintain, requiring utilities to invest nearly $100 billion a year to uphold. Grid-scale storage would create significant efficiency gains by reducing the need for new generation capacity, transmission and distribution infrastructure. The resulting savings would lead to lower electricity bills for Americans across the country. Federal support for large-scale demonstration projects is essential to realizing these benefits, as these projects generally carry too much financial and technical risk for the private sector to undertake on their own.
Energy innovation is key to our nation’s future prosperity. The Better Energy Storage Technology (BEST) Act is an important step toward making the electric grid more affordable and efficient for the American consumers and businesses that rely on it.