While the provided search results do not explicitly quantify the role of subsidies, the growth of long-duration energy storage (LDES) appears closely tied to government and corporate funding commitments:
Key drivers identified:
- Direct funding programs: Initiatives like California’s LDES program provide targeted investments to accelerate commercialization of storage solutions.
- Corporate and government commitments: Over $58 billion has been pledged globally since 2019 for LDES projects, with $30 billion already allocated to operational or under-construction projects.
- Market growth: The LDES sector is projected to grow at a 13.6% CAGR (2024–2030), reaching $10.43 billion, though scalability challenges persist for nascent technologies.
Subsidies and tax incentives likely enhance this growth by de-risking early deployments, but the available data emphasizes direct funding and policy support over specific subsidy details. The absence of explicit subsidy mentions in these results suggests their role may be embedded within broader financial commitments and government-backed initiatives.
Original article by NenPower, If reposted, please credit the source: https://nenpower.com/blog/what-role-do-subsidies-and-tax-incentives-play-in-the-growth-of-long-duration-energy-storage/
