Demand Management, Energy Efficiency, Energy Storage  -  March 14, 2019

New York State funds energy storage projects

The New York State Energy and Research Development Authority filed March 11 its plan to allocate 80% of the $350 authorized for bridge incentives in the energy storage projects to retail and bulk storage market acceleration incentives.

The state has a previously stated goal of having 1,500 MW of energy storage by 2025. These planned initiatives would help achieve about two-thirds of that goal, Renewables Now reported. The state is working toward having 3,000 MW of energy storage by the end of the next decade.

The plan includes a retail storage incentive that "will take up $130 million to speed up retail storage use cases in a MWh block design that declines as deployment increases," the site reported. This incentive targets projects of up to 5 MW that are either interconnected behind a customer’s electric meter, or directly into the distribution system.

New York state will allocate $150 million to fund a bulk storage incentive that backs projects exceeding 5 MW. These projects are interconnected directly into the transmission, sub-transmission or distribution systems, and are meant to provide wholesale market energy, ancillary services and/or capacity services.

These programs are expected to begin the second quarter of 2019.

NYSERDA plans to ask permission to set aside the remaining $70 million in its incentive funding for opportunities that have the greatest potential to build a self-sustaining storage market.

Keywords: nyserda

Share this valuable information with your colleagues using the buttons below:

« Back to News

comments powered by Disqus

Stay up-to-date and subscribe to our newsletter

  • Facebook
  • Twitter
  • LinkedIn
  • Subscribe