New York energy storage project wins $17M loan guarantee
The US Dept. of Energy finalized $17.1 million loan guarantee to support energy storage project in Johnston City, N.Y.
The U.S. Dept. of Energy has finalized a $17.1 million loan guarantee to support a utility-scale energy storage project in Johnston City, N.Y.
The loan guarantee will underpin the construction of a 20-MW facility using lithium-ion battery technology, in a project being developed by AES Westover, part of AES Corporation of Arlington, Va.
The DOE said the project would help provide a more stable and efficient electrical grid for the state’s high-voltage transmission network.
The AES project will make use of advanced lithium-ion battery cells supplied by A123 Systems Inc., which assembles, tests, and validates its battery systems at a facility in Hopkinton, Mass.
The energy storage facility will be used to provide short bursts of power for the grid during periods of peak demand, replacing the use of fossil fuel power plants in regulating the New York electricity network. It would be charged up during periods of low electricity demand.
Officials said the technology could help reduce the carbon emissions by 70% compared to fossil fuel-based frequency regulation, and would also mean lower-cost regulation for the grid.
Through the Loan Programs Office, the DOE has issued loan guarantees, or offered conditional commitments for loan guarantees, to support 16 clean energy projects totaling nearly $16.5 billion.
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Annual Salary Survey
Before the calendar turned, 2016 already had the makings of a pivotal year for manufacturing, and for the world.
There were the big events for the year, including the United States as Partner Country at Hannover Messe in April and the 2016 International Manufacturing Technology Show in Chicago in September. There's also the matter of the U.S. presidential elections in November, which promise to shape policy in manufacturing for years to come.
But the year started with global economic turmoil, as a slowdown in Chinese manufacturing triggered a worldwide stock hiccup that sent values plummeting. The continued plunge in world oil prices has resulted in a slowdown in exploration and, by extension, the manufacture of exploration equipment.
Read more: 2015 Salary Survey