On October 17, the Office of Electricity launched the $300,000 Energy Storage Innovations Prize. This new competition is seeking next-generation energy storage solutions to accelerate grid decarbonization.
Competitors will propose their grid-scale, long duration-capable energy storage technology innovation with a written summary and accompanying 90-second video. It is vital to note that this competition is only focused on emerging energy storage technologies to incentivize creativity and innovation that expand beyond the current state-of-the-art. Detailed descriptions of the technology categories are available in the official prize rules document.
This prize complements the efforts already undertaken within the Storage Innovations (SI) 2030 framework to develop specific and quantifiable RD&D pathways to achieving the targets identified in the Long Duration Storage Energy EarthShot, which seeks to achieve 90% cost reductions for technologies that can provide 10 hours or longer duration of energy storage within the coming decade. Achieving these aggressive targets will require resolution of key barriers throughout value chain, from basic and applied research through analysis, demonstration, manufacturing, and full integration into the power and end-use sectors.
Up to ten winners of the Energy Storage Innovations Prize are eligible to win a portion of the $300,000 cash prize pool. Submissions will be judged on the innovation’s quality, including a pathway to the Energy Storage Grand Challenge’s Levelized cost of storage, SI 2030 goals, strength of plan, and other unique benefits, including equity and supply chain considerations.
The deadline to enter is Friday, December 16, 2022.
Learn more at https://www.herox.com/storageinnovations.
The prize is part of the American-Made Challenges program, which incentivizes innovation through prizes, training, teaming, and mentoring by connecting the nation’s entrepreneurs and innovators to America’s National Labs and the private sector.
Since the American-Made Challenges prize program launched in 2018 to support U.S. entrepreneurship and innovation in clean energy, DOE has awarded about $100 million in cash and incentives to competitors in more than 30 prizes spanning solar, water, geothermal, buildings, hydrogen, energy storage, transportation, technology transitions, manufacturing, and more.