The US Department of Energy (DOE) has reported that the country's energy storage pipeline has grown by 300% since the passing of the Investment Tax Credit (ITC) and the Inflation Reduction Act.

These acts have provided financial incentives and reduced the cost of energy storage projects, leading to a surge in the number of planned projects. The increase in the energy storage pipeline is expected to enhance the reliability of the electric grid and promote the integration of renewable energy sources.

The DOE's report highlights the positive impact of government policies in driving the growth of the energy storage industry. In addition to the growth in the energy storage pipeline, the DOE's report also emphasizes the significance of Long Duration Energy Storage (LDES) technologies in achieving a sustainable and resilient energy system.

LDES technologies have the potential to store large amounts of energy for extended periods, which can help balance the intermittent nature of renewable energy sources and provide backup power during grid disruptions. The report highlights the need for continued research and development in LDES technologies to unlock their full potential and further accelerate the transition towards a clean and reliable energy future.