The U.S. Department of Energy (DoE) has recently launched its 'Pathways to Commercial Liftoff', a set of reports that represent a new department-wide initiative to strengthen engagement between the public and private sectors to accelerate the commercialization and deployment of key clean energy technologies.
The reports provide the private sector and other industry partners a valuable, engagement-driven resource on how and when certain technologies - clean hydrogen, advanced nuclear, and long duration energy storage - can reach full scale deployment.
By 2030, the reports concluded that cumulative investments must increase to approximately $300 billion across the hydrogen, nuclear, and long duration energy storage sectors, with continued acceleration until 2050 required to stay on track to realize long-term decarbonization targets.
The new initiative underscores the critical role that DOE plays in enabling widespread commercial adoption of the clean energy technologies that are essential to meeting Biden administration's ambitious goals of achieving 100 percent clean electricity by 2035 and a net-zero emissions economy by 2050, according to DoE.
"As we combat the climate crisis and race towards an equitable clean energy future, public and private partnerships will be more important and critical than ever before," said U.S. Secretary of Energy Jennifer M. Granholm. "The Liftoff reports will help drive engagement between government and industry to unlock exciting new opportunities and ensure America is the global leader in the next generation of clean energy technologies."
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The report on clean hydrogen notes that the market is among the best poised to reach full-scale commercialization. The Liftoff report indicate that, despite increased investor engagement and project announcements, infrastructure buildout, demand uncertainty, workforce development, and other challenges to at-scale adoption need to be addressed for clean hydrogen to realize its full potential.
Although LDES technology is still maturing, the other report observes that LDES market has enormous potential to improve grid resilience, increase the adoption of renewable power generation, and strengthen our energy security.
However, the DoE report adds that continued technological progress, cost reductions, and an increase in public and private investment must be achieved to accelerate commercialization and ensure this promising technology can be a critical component of any future energy solutions.
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The Bipartisan Infrastructure Law and Inflation Reduction Act has provided DoE billions of dollars to invest in and support large-scale demonstration and deployment of clean energy technologies over the next decade. These investments are intended to drive commercialization and unlock trillions in private investment to set the nation on a course to hit critical long-term decarbonization objectives.
The Liftoff reports will provide insights that will help steer those investments and enable the nation's broader industrial strategy, while also strengthening domestic supply chains and global competitiveness, and facilitating an equitable energy transition.
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