The Importance of The Electric Grid in Puerto Rico
Puerto Rico aims to reach 100% renewable energy by 2050, but challenges such as extreme weather events, rising energy costs, and the need for infrastructure improvements have made progress difficult.
Puerto Rico has ambitious renewable energy goals, which can help the island mitigate the consequences of extreme weather events exacerbated by climate change and an aging, battered electric grid; Hurricanes Maria and Irma were particularly devastating, damaging 80% of Puerto Rico’s electric grid.
The island has responded to these challenges by setting an ambitious goal of achieving 40% renewable energy by 2025 and 100% renewable energy by 2050, relying on its most abundant resources: solar and wind.
Convergent Receives Guaranteed Loan to Build Solar PV and Energy Storage in Puerto Rico
On January 17, 2025, Convergent Energy and Power (Convergent), a leading provider of energy storage solutions in North America, today announced the closing of its $584.5 million guaranteed loan facility from the U.S. Department of Energy (DOE) Loan Programs Office (LPO) to build a solar photovoltaic (PV) system with an integrated battery storage system and three stand-alone battery storage systems across Puerto Rico.
Convergent Co-Founder and CFO Frank Genova said, “Convergent has a long history of supporting an energy landscape that is less expensive, more reliable, and increasingly sustainable. As a leading developer of energy storage and solar PV systems, we have the expertise—and the capital—to bring Puerto Rico’s electric grid into the future. We look forward to enhancing grid reliability for communities across Puerto Rico.”
Convergent CEO Johannes Rittershausen said, “Puerto Rico has commendable renewable energy goals and is taking concrete steps to reach them. Convergent is ready to help Puerto Rico deploy more solar energy, accelerating the clean energy transition. We are thrilled to help bring Puerto Rico cleaner, more reliable power.”
How Convergent is Supporting Puerto Rico’s Energy Goals with Solar and Battery Storage
Convergent’s solar-plus-storage installation in the municipality of Coamo will be a 100 MW solar PV system paired with a 55 MW/55 MWh battery storage system. Three utility-scale stand-alone battery storage systems are planned for the municipalities of Caguas, Peñuelas, and Ponce. These systems would generate power directly to Puerto Rico’s grid and provide energy storage benefits necessary for Puerto Rico’s goal of achieving 100% clean energy resources by 2050.
Widescale solar and battery storage deployment can help benefit communities across the island by reducing Puerto Rico’s high energy costs, which, on average, are significantly higher than for the continental United States.
The clean, affordable electricity generated by these systems can replace some of the power produced by Puerto Rico’s diesel and coal plants, which would reduce pollution and contribute to the avoidance of carbon dioxide emissions.
Convergent is working with the Puerto Rico Department of Economic Development and Commerce to establish an integrated apprenticeship and hiring plan that will align with the municipal, commonwealth, and federal goals to prioritize workforce diversity and minority and women-owned business enterprises as subcontractors where commercially feasible. The systems are expected to create approximately 540 construction jobs.
Why Energy Storage is the Linchpin of the Clean Energy Transition
Energy storage is the linchpin of the clean energy transition. The more renewable energy on the grid, the better—but these resources only produce power when the sun is shining, or the wind is blowing. When battery storage is paired with solar PV, batteries can utilize solar energy whether or not the sun is shining. In other words, energy storage can “firm up” renewable resources, maximizing their value to the grid.
Historically, power on the grid has flowed in one direction (from generation to transmission to distribution to customers) but with more and more customers producing their own power, i.e., solar panels at businesses or residences, power is now flowing in multiple directions. The grid was not built for this. Nor was it built for the proliferation of extreme weather events produced by climate change.
The combination of solar arrays and industrial or utility-scale batteries provides a flexible, proven, multi-use solution to meet the electric grid’s—and the climate’s—21st-century challenges, accelerating the clean energy transition.
Battery storage systems allow electricity to be moved to when it is needed most, such as charging batteries with solar power in the afternoon then discharging in the evening. Almost half of the battery storage in the U.S. today has been deployed since the start of 2023, and Wood Mackenzie forecasts another doubling through 2027.
Learn More and Connect with Convergent
The future of energy is already here.
Convergent has been in the energy storage industry since its infancy, more than a decade ago. Throughout that time, we’ve gained experience and expertise, working closely with businesses and utilities to take the hassle out of energy storage by building, owning, and operating systems on their behalf. We’re proud to say that it has never been easier to integrate energy storage into your business or utility and the time has never been better.
To sum it up, the future of energy depends on our ability to store it. We need energy storage to accelerate the clean energy transition, reduce costs, and increase reliability for businesses, utilities, and communities. We need to mitigate the impact that extreme weather events, including hurricanes, have on our grid. And we need to prepare for more stress on our grid infrastructure as result.
To learn more about how an energy storage system or solar-plus-storage (paired solar PV and battery storage) can benefit your business or utility, schedule a free, no-obligation introductory call with our team today.