India, US push for $30 mn energy storage deal

India and the US have agreed on a $30 million public-private five-year joint research initiative on smart grid and energy storage technology.
The US Energy Department (DOE) and the Indian Ministry of Science and Technology (MST) are each committing $1.5 million per year for five years to the expanded research effort, subject to congressional appropriations. The United States and Indian private sectors will match the respective government commitments, resulting in a combined $30 million public-private research investment over the next five years,” a statement said.
“Smart grid and storage technology will transform how we produce and consume electricity, which has the potential to decrease carbon pollution by scaling up renewable energy deployment,” said US Secretary of Energy Ernest Moniz. “Working collaboratively with India will accelerate solutions to drive down technology costs and improve grid resilience and reliability in both countries.”

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