Cyprus has set out a policy framework for the integration of energy storage systems after reaching a funding agreement with the European Commission (EC).

Lack of industrial policy and strategy and vulnerability to supply chain disruption are among the key things holding back the US’ position in global battery manufacturing.

“No other policy in play right now” could be “more immediate or more impactful” than a ‘standalone’ Investment Tax Credit (ITC) in the US for energy storage, the CEO of the national Energy Storage Association has said.