20 Mwatt Fast-Response Energy Storage System. Jobs in Pennsylvania

Beacon Power Corporation, a leading provider of fast-response energy storage systems and services to support a more stable, reliable and efficient electricity grid, announced that it has been awarded a $5-million state grant toward construction of a 20-megawatt flywheel energy storage plant in Hazle Township, Pennsylvania.

The Company received formal notice of the Redevelopment Assistance Capital Program grant award from the office of Governor Tom Corbett.

This is remarkable new technology that will help lower the cost of electricity in the long run,” said U.S. Representative Lou Barletta (PA-11). “Storing energy and putting it back into the grid when it’s needed could be a game-changer as we try to reduce the cost of energy. Additionally, projects like this will bring significant economic, environmental, and efficiency benefits to Pennsylvania’s power grid. It will also create new jobs and boost the local economy.

“We’re very pleased to receive news of this $5-million grant commitment for our next 20 megawatt energy storage plant,” said Bill Capp, Beacon Power president and CEO. “We’re grateful for the collaborative, bipartisan effort that helped finalize this grant, especially to Governor Corbett, Congressman Barletta, State Senator John Yudichak, State Representative Tarah Toohil, the Pennsylvania Public Utility Commission, and Bernadette DeBias and Joseph Lettiere of CAN DO, Inc.

We look forward to the start of construction later this year.”

This project presents many great opportunities for this region,” said Senator Yudichak. “Not only does it enhance clean energy efforts in the state, it provides a significant economic boost to the area with the potential creation of 57 new jobs. I am very pleased to announce this funding; I believe it will significantly assist with the economic recovery of this community.

“The goal of the Redevelopment Assistance Capital Program funding is to provide long-term investment in businesses that will ultimately help boost the economy and produce more employment opportunities,” said Representative Toohil. “I look forward to the immediate construction jobs that will be created as this project begins.”

Beacon’s energy storage plant will provide an essential grid-stabilizing service known as frequency regulation by effectively “recycling” electricity to balance its supply and demand on a moment-to-moment basis. Unlike conventional fossil-fuel generators that are typically used to provide this service, Beacon’s flywheel technology consumes no fuel, produces zero emissions of any kind, and can perform faster and more cost-effectively.

In addition to the $5 million state grant, the $53-million Hazle Township plant was also awarded a $24-million Smart Grid stimulus grant from the U.S. Department of Energy. Beacon Power recently completed construction and is now operating its first 20 MW flywheel frequency regulation plant in Stephentown, New York.

About Beacon Power Corporation

Beacon Power Corporation designs, develops and is commercializing advanced products and services to support stable, reliable and efficient electricity grid operation. Beacon’s Smart Energy MatrixTM, now in production, being operated and earning revenue in Massachusetts and New York, is a non-polluting, megawatt-scale, fast-response flywheel-based solution designed to provide less expensive, more sustainable and effective frequency regulation services to the nation’s power grid. The Company’s business strategy is both to supply frequency regulation services from its own plants and to sell systems directly to utilities or grid operators in parts of North America and selected international markets. Beacon is a publicly traded company with its research, development and manufacturing facility in the U.S. For more information, visit http://www.beaconpower.com .

SOURCE: Beacon Power Corporation

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Posted by Gordon Smith on Aug 22 2011. Filed under Flywheel Energy Storage, Solar Thermal. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry