Genie Solar Energy

US Energy Department Announces $3 Billion Investment In Battery Supply Chain

The US Department of Energy (DOE) announced this past week that they intend to provide $2.91 billion in funding to support battery manufacturing here in the United States. This is critical to support the rising need of energy infrastructure to support clean energy initiatives including electric vehicles and energy storage.

Commercial Energy Storage

Concept of energy storage unit for emerging market of commercial energy battery storage.

It is expected that the funding will be available within the coming months to fund battery material refining, production, cell and pack manufacturing facilities, and recycling facilities. This will create good-paying jobs, and increase economic competitiveness, energy independence, and national security.

The department’s goal is to develop a fully domestic end-to-end battery supply chain. This includes producing and recycling critical minerals without new extraction or mining, as well as, sourcing materials for domestic manufacturing.

Genie Solar’s resident battery expert, Bill Schmitz, is ready to help our commercial and industrial clients evaluate batteries as they evolve over the next coming months and years. Without a doubt, the best value for businesses that are investigating batteries will be to pair it with solar – having an onsite generation source that can consistently recharge the batteries.



Genie Energy Ltd., (NYSE: GNE, GNEPRA) is a global energy solutions company. We supply customers in the US and Europe with electricity, including electricity generated from renewable resources and with natural gas. Through Genie Solar Energy and Prism Solar, we design, construct and install commercial solar energy solutions. We provide commercial and industrial clients with energy brokerage and consultative services through our Diversegy brand.