{"id":47393,"date":"2024-11-14T20:41:13","date_gmt":"2024-11-14T20:41:13","guid":{"rendered":"https:\/\/saperemarketing.com\/clearpath\/uncategorized\/the-rundown-commercializing-energy-storage-s-korean-co-investing-in-american-tech-independence-through-permitting-reform\/"},"modified":"2024-11-14T20:41:13","modified_gmt":"2024-11-14T20:41:13","slug":"the-rundown-commercializing-energy-storage-s-korean-co-investing-in-american-tech-independence-through-permitting-reform","status":"publish","type":"post","link":"https:\/\/saperemarketing.com\/clearpath\/uncategorized\/the-rundown-commercializing-energy-storage-s-korean-co-investing-in-american-tech-independence-through-permitting-reform\/","title":{"rendered":"The Rundown: Commercializing energy storage \u2013 S. Korean Co investing in American tech \u2013 Independence through permitting reform"},"content":{"rendered":"

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Happy Friday!<\/span><\/font><\/p>\n
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1. Quidnet\u2019s first commercial-scale energy storage project<\/h1>\n

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\t\t\t\t\t\t\t\t\t\t\t\tA landmark 15-year agreement <\/strong>was announced between Texas utility CPS Energy and Quidnet Energy to build a long-duration, grid-scale energy storage project<\/span><\/strong><\/a>.<\/p>\n

\t\t\t\t\t\t\t\t\t\t\t\tWhat\u2019s clear:<\/strong> American innovators are well-positioned to lead the world in the development of next-generation energy storage technologies. Quidnet\u2019s geomechanical pumped storage (GPS) technology, while similar to traditional pumped hydro storage, offers a few key advantages:<\/p>\n

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2. Omnibus spending agreement<\/p>\n

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Congress released an omnibus spending bill<\/strong> which passed the U.S. House on Wednesday and the Senate on Thursday. It includes exciting clean energy innovation provisions, including:<\/p>\n

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  • $450 million for ARPA-E: Funded at $450 million ($23 million increase)<\/li>\n
  • $45 million for fusion energy public-private partnerships<\/li>\n
  • Language to improve carbon dioxide infrastructure such as onshore pipelines<\/li>\n
  • $120 million for \u201cProject Pele,\u201d Dept. of Defense\u2019s cutting-edge Strategic Capabilities Office (SCO) program to demonstrate a non-light water nuclear reactor design by 2024<\/li>\n
  • $250 million for the Advanced Reactor Demonstration Program (ARDP)<\/li>\n
  • $120 million for the energy storage including the Grid Storage Launchpad<\/li>\n<\/ul>\n

    Plug in: The legislation also includes funds for the offices of Fossil Energy, Nuclear Energy, Energy Efficiency and Renewable Energy and Science. The Hill has more<\/span><\/strong><\/a>.<\/p>\n

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3. TVA & Oak Ridge new partnership to advance clean energy<\/h1>\n

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4. S. Korean firm investing in American clean energy<\/h1>\n
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A $100 million investment into 8 Rivers Capital,<\/strong> a U.S. clean energy solutions provider, by South Korean investment firm SK Group will fund emissions reduction efforts in Asia<\/span><\/strong><\/a> by deploying clean energy technologies such as carbon capture, hydrogen production, and direct air capture among others.<\/p>\n

What\u2019s clear:<\/strong> This announcement comes as Europe is trying to reduce its reliance on Russian natural gas, while Asian countries are simultaneously trying to meet increased demand for power.<\/p>\n

Note:<\/strong> The energy startup NET Power uses 8 Rivers\u2019 technology and successfully built a functioning pilot plant in Texas in 2018.<\/p>\n

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5. Modernizing a broken permitting process<\/h1>\n
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A domestic source of critical minerals is essential for American energy independence<\/strong>. Lithium Americas is in the final phase to begin its Thacker Pass lithium mine in Nevada.<\/p>\n

What\u2019s clear: Thacker Pass has been a decade in the making.<\/strong> The current permitting process is broken and outdated \u2014 Thacker Pass is a prime example of why we need to modernize.<\/p>\n

Speaking of which, lawmakers are talking about this too. DOE Secretary Granholm assured an audience at CERAWeek<\/span><\/strong><\/a> that permitting reforms are \u201cdefinitely on the agenda\u201d for the Biden administration. And U.S. Rep. John Joyce (R-PA) made the case at a House E&C Committee hearing<\/span><\/strong><\/a>.<\/p>\n

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6. ICYMI<\/h1>\n