S. 2332 would direct the Department of Energy (DOE) to establish a research, development, and demonstration program for energy storage technologies. The bill also would direct DOE to establish a grant program to carry out projects related to modernizing the electric grid and other programs aimed at increasing the resiliency of electrical systems.
S. 2332 would authorize the appropriation of $250 million a year through 2028 for those purposes. Assuming appropriation of the authorized amounts, and based on historical spending patterns for similar activities, CBO estimates that implementing S. 2332 would cost $842 million over the 2020-2024 period and $1.4 billion after 2024.
The costs of the legislation (detailed in Table 1) fall within budget function 270 (energy).