Tesla And Sunrun Among Winners of Massachusetts Storage Grants
(Bloomberg) -- Tesla Inc., Sunrun Inc. and National Grid Plc are among recipients of energy-storage grants totaling $20 million from Massachusetts.
Massachusetts had initially committed $10 million in grants in an effort to become an energy-storage leader. It ended up doubling that, awarding grants to 26 projects.
Tesla won more than $2.3 million in grants. National Grid received $875,000, and Sunrun got $561,000, according to an emailed statement Thursday from Massachusetts Governor Charlie Baker's office. Other winners include NextEra Energy Inc., EnerNOC Inc. and Advanced Microgrid Solutions LLC.
After years in the laboratory, large-scale energy storage is being increasingly used on the grid as regulators make it mandatory and prices decline sharply. Prices for lithium-ion battery packs have fallen 24 percent from 2016, according to Bloomberg New Energy Finance.
Baker established Massachusetts's energy storage initiative in 2015 to accelerate development of early commercial technologies. That includes batteries, flywheels, thermal storage and pumped hydroelectric power systems.
To contact the reporter on this story: Brian Eckhouse in New York at beckhouse@bloomberg.net.
To contact the editors responsible for this story: Lynn Doan at ldoan6@bloomberg.net, Joe Ryan, Will Wade
©2017 Bloomberg L.P.
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