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February 25, 2024
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DOE Targets 90% Cut in Cost of Long-duration Storage
With Multiple Technologies Available, Industry Analysts Say Goal Can be Reached
The DOE wants long-duration storage technologies <span style="color: rgb(65, 65, 65); letter-spacing: normal; orphans: 2; text-align: left; white-space: normal; widows: 2; word-spacing: 0px; display: inline !important; float: none;">—</span> like Energy Vault's towers that raise and lower 35-ton blocks of concrete <span style="color: rgb(65, 65, 65); letter-spacing: normal; orphans: 2; text-align: left; white-space: normal; widows: 2; word-spacing: 0px; display: inline !important; float: none;">—</span> to hit a levelized cost of 5 cents per kWh-cycle for 10 hours or more within the next decade. 
The DOE wants long-duration storage technologies like Energy Vault's towers that raise and lower 35-ton blocks of concrete to hit a levelized cost of 5 cents per kWh-cycle for 10 hours or more within the next decade.  | Energy Vault
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A new initiative at DOE's national labs will use AI and machine learning to cut the time long-duration storage technologies will need to reach commercial scale.
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