FACT SHEET: Obama Administration Announces Federal and Private Sector Actions on Scaling Renewable Energy and Storage with Smart Markets
President Obama believes in the need to transition to a cleaner, more reliable, and affordable 21st century power grid. Under his leadership, transformations in how we produce and consume electricity are decreasing carbon pollution, scaling up renewable energy, and generating savings on consumers’ energy bills. Since 2009, renewable energy generation has increased at a record pace, while costs have decreased dramatically. Building on this progress, smart electricity market reforms, enhanced transparency, and flexible energy resources such as storage and demand response have the potential to further accelerate the development of a cleaner and smarter grid. In fact, in 2015 alone, the United States doubled the installed capacity of advanced energy storage to 500 megawatts (MW) and deployment of this key resource is projected to continue to expand.