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Industry News

New York Announces Energy Storage Roadmap to Add 1,500 Megawatts by 2025 to Combat Climate Change

LCG, June 22, 2018--The Governor of New York Thursday announced his New York Energy Storage Roadmap that targets 1,500 MW of energy storage by 2025 to combat climate change. New York State currently has approximately 60 MW of advanced energy storage capacity deployed and another 500 MW in development. There is also 1,400 MW of traditional pumped storage hydro capacity.

The New York Energy Storage Roadmap, developed by the Department of Public Service and New York State Energy Research and Development Authority (NYSERDA), provides short-term recommendations for how energy storage can deliver value to New York electricity consumers and cost-effectively address the needs and demands of the grid. The Roadmap provides a set of specific recommended actions to accelerate the deployment of energy storage projects in New York State and position the state as a leading national market for advanced energy storage projects.

The Governor stated, "Clean energy is the future of our planet, and New York will continue to lead the nation in this technology to fight climate change and conserve resources for generations to come. This Roadmap is the next step to not only grow our clean energy economy and create jobs, but to improve the resiliency of the grid to keep our power running in the face of extreme weather and other emergency situations."

The NY Green Bank seeks to invest at least $200 million in storage-related investments, which will help drive down costs for the strategic deployment of energy storage at scale. NY Green Bank is New York's $1 billion state-sponsored investment fund and the largest Green Bank in the nation. It works with private sector developers, financial institutions and others to help address and alleviate gaps in the clean energy marketplace. NY Green Bank has released a Request for Information (RFI) to solicit direct interest from project developers on how it can address financing gaps and support energy storage projects. NY Green Bank is also expected to issue a Request for Proposals (RFP) later this year for projects combining solar and energy storage.

To advance energy storage development in ways that are viable, replicable, and scalable, the Roadmap recommendations include: providing $350 million in statewide market acceleration incentives to fast-track the adoption of advanced storage systems to be located at customer sites or on the distribution or bulk electric systems; adding incentives for energy storage to NYSERDA's NY-Sun initiative to accelerate the development of solar plus storage projects and allow those projects to access federal tax credits before they expire; regulatory changes to utility rates, utility solicitations and carbon values to reflect the system benefits and values of storage projects; and, recommending modifications to wholesale market rules to better enable storage participation, including allowing storage to meet both electric distribution system and wholesale system needs to provide greater value for ratepayers.

The Chair of the New York State Public Service Commission stated, "With this step, we advance valuable deployment of energy storage, in line with Governor Cuomo's target established in his State of the State of 1,500 MW deployed by 2025, and in line with the Governor's goal of 50 percent renewable energy by 2030 under his Reforming the Energy Vision (REV) strategy. With viable and valuable energy storage systems we optimize our renewable energy sources and enhance grid reliability for the benefit of all New Yorkers."
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