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September 21, 2018

Tesla, GE among recipients of $20M in state grants for energy storage projects

Gov. Charlie Baker’s administration is awarding $20 million in grants to about two dozen large-scale energy storage projects in Massachusetts, including some run by General Electric Co. (NYSE: GE), Tesla Inc. (Nasdaq: TSLA) and National Grid plc (NYSE: NGG).

The money will support 26 projects with a variety of business models with the ultimate goal of kickstarting an industry that promises wide benefits but has struggled to fit into the economic calculus of the electricity market.

“In essence,…

Source: Boston Biz

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