Biofuels and energy storage projects are among the leading recipients.
Other companies around the country also are exploring carbon capture and storage projects.
The Energy Department is also supporting storage projects that rely on compressed air.
But so-called carbon capture and storage projects have collapsed in Germany, Scotland and West Virginia.
NextEra is not currently planning investments in any storage projects, Mr. Stengel said.
The 2008 Energy Act made helpful tweaks to the rules for subsea storage projects.
Quidnet plans to build and operate energy storage projects for power plant owners, utilities and industrial companies.
Cainey, director of the trade body Electricity Storage Network, says storage projects can be built very quickly.
The Energy Department is supporting a variety of storage projects, using money from the economic stimulus funds approved by Congress.
Centrica scrapped two gas storage projects after failing to win public subsidies: it thought it cheaper to take a £240m writedown than to proceed with construction.
The US market installed 221 megawatts of energy storage projects in 2015, up from the 65 megawatts added in 2014, according to GTM Research.
