Customers in Long Island, New York, that install commercial energy storage systems of up to 5MW and residential solar-plus-storage will be eligible for incentive payments of US$250 per kWh of storage installed.
That’s while a US$55 million pledge from state Governor Andrew Cuomo lasts, with close to US$15 million of funding to be spent this year and the remainder to be paid out over the next three to five years.
Cuomo said that the incentives for energy storage “will help Long Islanders grow their clean energy economy and create jobs while also improving the resiliency of their grid in the face of more frequent extreme weather events”.
Building out resiliency on Long Island will help the state further its renewable ambitions, with Cuomo having ushered in what was dubbed a ’Green New Deal’ for the state, including 3,000MW of energy storage to be deployed by 2030. Up to US$350 million of direct investment could be made into supporting energy storage deployment and businesses, Energy-Storage.news reported in April.
Even before that, New York was already on the path of its Renewing the Energy Vision (NY REV) programme, examining how to modernise and re-energise with renewable and more energy efficient solutions one of the world’s grandest old grids.
NYSERDA emailed Energy-Storage.news yesterday to announce the latest Long Island funding, with the agency making incentives available through its NYSERDA Retail Energy Storage Incentive Program. The agency’s release highlighted the key role energy storage can play in reducing the impact of peaks on the grid, something traditionally associated as the main strength of inflexible fossil fuel generation. The support for energy storage is being pushed in conjunction with utility Public Service Electric and Gas Long Island (PSEG-LI).
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