Beacon Power Corporation, a manufacturer of products and services for electric grid operations, will invest a total of $69 million to build a 20-megawatt flywheel-based energy storage plant in Stephentown, New York. The company says it has received funding toward the project from the American Recovery and Reinvestment Act in the form of a $43 million loan guarantee from the U.S. Department of Energy (DOE). The Massachusetts-headquartered company's technology uses flywheels to turn motors that run on excess power from the electrical grid and transfer it back to the grid as needed, with virtually no carbon dioxide emissions used; the company says this eliminates approximately 12,000 tons of carbon dioxide each year. "This loan guarantee will enable the construction and startup of our first full-scale commercial plant, and it confirms DOE's positive role in using energy policy to accelerate the deployment of advanced energy technologies." The Albany Times Union reports that the project is not expected to generate new jobs, since the plant is designed to run unattended and will be controlled remotely by the New York State Independent System Operator. Construction is expected to begin before the end of the year.
