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Long Duration Energy Storage Systems for a Cleaner Future

12 Stabilize the Grid and Accelerate Renewables GW RESSI INC US Renewable Energy Penetration (2015-2050)1 65% 57% 47% 40% 36% 31% 23% 15% 2015 2020 2025 2030 2035 2040 2045 2050 California Duck Curve and % Renewable Penetration1,2 25 15 5 -2013 (10%) -2019 (27%) Impact of renewables on the grid 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 Renewable intermittency creates a massive problem for the grid, particularly >25% penetration Carbon-free is the goal Intermittency and curtailment are barriers ■4-hour storage does not efficiently bridge. the duck curve Longer duration solutions enable peaker plant replacements Hour of day BloombergNEF. IEA, "The California Duck Curve", December 2019. % figures represent solar and wind power penetration in each year. CONFIDENTIAL| 11
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