Biden Administration Announces $28M To Advance And Deploy Hydropower Technology
Three funding opportunities consisting of more than $28 million to support research and development projects that will advance and preserve hydropower as a critical source of clean energy have been announced by the United States Department of Energy.
According to the U.S. DOE, funded through President Biden’s Bipartisan Infrastructure Law, this funding will support the expansion of low-impact hydropower (such as retrofits for dams that do not produce power) and pumped storage hydropower, the development of new pumped storage hydropower facilities, and engagement with key voices on issues like hydropower fleet modernization, sustainability, and environmental impacts. President Biden’s Inflation Reduction Act also includes a standalone tax credit for energy storage, which will further enhance the economic attractiveness of pumped storage hydropower. Hydropower will be a key clean energy source in transitioning away from fossil fuels and meeting President Biden’s goals of 100% carbon pollution free electricity by 2035 and a net-zero carbon economy by 2050.
