Younicos Inc., a global leader for intelligent energy storage and grid solutions, strongly supports the recent passage by the U.S. Senate's Energy and Natural Resources Committee of the Energy Policy Modernization Act of 2015. The Act is the first major piece of bipartisan energy legislation since the Energy Policy Act of 2005.
The wide-ranging bill, which passed by an 18-4 bipartisan margin, would allocate several billion dollars in federal funding to grid technology research, demonstration, and program development initiatives, including energy storage, advanced modernization programs, energy sector cybersecurity, workforce development and other areas. It will also increase the availability of federal loan guarantees for energy-related projects, including storage, by making loan guarantees accessible to state financing agencies, such as clean energy funds and economic development authorities.
James P. McDougall, Younicos CEO, said: "This sweeping energy modernization bill is a landmark piece of legislation that, if enacted, will go a long way toward driving innovation, technology advancements, job creation and access to financing in the electric power industry. Younicos is on the front lines of grid technology development, deployment and operation, where many aspects of this legislation will have favorable impacts. "
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Download free sample pagesMcDougall continued: "The fact that this bill passed by a wide margin in a generally divided legislative environment underscores the bipartisan benefits and compelling value proposition of energy storage technology as a cost-effective, grid-enhancing solution. We commend the Senate Energy and Natural Resources Committee for its leadership and vision, and we strongly encourage passage of this bill by the full Senate."
