Energy storage may be an emerging technology, but that doesn’t necessarily mean banks and investors are scared of it.
“When you go to the banks, they say, ‘We can get comfortable with the technology,’” John Zahurancik, president of Arlington, Virginia-based AES Energy Storage LLC, said in an interview Tuesday at the Bloomberg New Energy Finance summit in New York. “Nobody wants to be at the back of the bus.”
Banks are looking for long-term assurance that the systems will bring in money, especially long-term contracts. “The revenue certainty is the question,” Zahurancik said. “When there’s more to do, you’ll see financing coming.”
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