The Advanced Research Projects Agency-Energy (ARPA-E), a branch of the U.S. Department of Energy, announced a huge battery storage breakthrough this week, calling it the “holy grail” of energy. The technology, which has been in development for the past seven years, could potentially transform America’s electrical grid within another five to 10 years.

“We want power to be easy,” ARPA-E director Ellen Williams told The Guardian.“So I think one of the things that we will see in the next five to 10 years is a whole set of ideas about the internet of things start to develop in ways to make it easier, or even make it fun, for people to optimise their energy use.”

Williams was short on details for how the net generation battery actually works, but this could be the breakthrough that tech billionaires like Elon Musk and Bill Gates have been racing towards. The new batteries should eventually be used in offices, homes and even by power companies.

ARPA-E was founded in 2009 as part of President Obama’s economic recovery plan. The organization is considered to be a moonshot, with a high risk but huge potential if it succeeds. Luckily, it looks like this moonshot may pay off.