Statements on Introduced Bills and Joint Resolutions

Floor Speech

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Ms. COLLINS. Mr. President, I rise today to introduce the Better Energy Storage Technology Act. I am pleased to be partnering with Senator Heinrich on this initiative. I would also like to thank Senator Gardner, Senator Smith, Senator Coons, Senator McSally, and Senator King who have joined us as original cosponsors of the BEST Act.

Our bipartisan bill supports narrowly tailored energy storage research to develop the next generation of technologies at the Department of Energy. Advancing next generation energy storage technology will allow us to integrate more renewables into the power grid, such as wind energy or solar energy which, in turn, will help to reduce emissions and slow climate change.

Energy storage systems provide a wide range of benefits. First, these technologies increase the reliability and the resilience of the electric grid by limiting potential disruptions. Energy storage helps us to better manage supply and demand on the grid and allows for the expanded use of renewable energy. The reliability of our grid and grid- scale storage systems go hand-in-hand.

Second, this type of technology can decrease energy costs, a goal that we all share. In Maine, the price of electricity rises steeply during the coldest days of the year. For example, in late 2017 and early 2018, very cold temperatures in New England led to higher energy costs--more than a billion dollars in the wholesale energy market--in just 15 days.

The next generation of energy storage technologies could help to transform our grid, meaning that we would no longer need to generate more expensive power to meet demands during the hottest and coldest days of the year. Instead, we could use more affordable energy sources that have been stored for later use.

Third, energy storage systems can allow for more intermittent renewable sources, such as wind and solar power, to be placed on the grid and used precisely when they are needed. The Aqua Ventus, a floating, deepwater offshore wind project being developed by the University of Maine and a consortium of groups, could benefit from energy storage innovation. Off the coast of Maine, there are very strong and consistent winds where offshore wind turbines can produce electricity almost 50 percent of the time. This next generation storage technology will ensure that we can use this wind power closer to 100 percent of the time by storing electricity to use when the wind isn't blowing.

One of the biggest hurdles to commercializing energy storage is cost. To overcome this obstacle, our bill specifically directs the Department of Energy to work to decrease the cost of this exciting technology. This is similar to the Department's SunShot initiative that decreased the price of solar power by approximately 75 percent in less than a decade.

Furthermore, energy storage systems are technology neutral. This bill will foster innovation and enhance deployment of these innovative technologies without picking winners or losers.

Specifically, our bill would do the following: It would focus energy storage research on highly flexible, longer duration, and seasonal storage systems. It would support five energy storage demonstration projects. The bill would create a strategic plan and allow the Department of Energy to develop cost targets. It would coordinate research and support the coordination of research. Finally, the bill would authorize $60 million annually for each of the next 5 years.

I am pleased to report that our bipartisan bill has earned very broad support, including the endorsements of the Bipartisan Policy Center, Citizens for Responsible Energy Solutions, ClearPath, Edison Electric Institute, Energy Storage Association, the Information Technology and Innovation Foundation, the National Audubon Society, the Natural Resources Council of Maine, the National Hydropower Association, Solar Energy Industries Association, the Union of Concerned Scientists, and the U.S. Chamber of Commerce.

Frankly, it has been a long time since I have seen a bill be able to attract that much support from groups that have different ideological goals, and I am very proud that we were able to line up the support of all of those groups.

The BEST Act will help advance energy storage technologies to improve the efficiency of our Nation's electrical grid while helping to promote the wider use of clean, renewable energy. The goals of this bill are those which I would hope every Member of this body could embrace. I urge my colleagues to support this legislation.

Thank you, Mr. President.

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