Energy storage -- in batteries or through other technologies -- can improve the efficiency of the electric grid. Depending on its siting and configuration, storage can avoid the need for wires upgrades, or improve the ability of wind and solar energy sources to meet periods of peak demand.
A number of states are exploring or adopting policies to encourage the development of electric storage resources. In December 2018, New York set goals to add 1,500 megawatts of energy storage by 2025 and 3,000 megawatts by 2030, and gave the New York State Energy Research and Development Authority (NYSERDA) authority to develop and implement incentives to accelerate the transformation of the energy storage market.
On April 25, 2019, NYSERDA released its final implementation plan for energy storage market acceleration. Concurrently, Governor Andrew Cuomo announced that $280 million of support is available for energy storage projects to accelerate growth within the industry and drive down energy storage deployment costs to build a sustainable and affordable market.
Incentives include $150 million in funding for energy storage projects larger than 5 megawatts, offering $110/kWh
for projects up to 20 megawatts and at $85/kWh for larger projects. The incentives also include $130
million for the Retail Energy Storage Incentive Program, a megawatt hour block system, supporting customer-sited energy storage projects up to 5 megawatts; under the retail program, incentive levels start at $350/kWh, and decline similar to under the NY-Sun Megawatt
Block program.
These NYSERDA incentives are part of a larger $400 million state plan to support energy storage. The broader state plan includes an additional $70 million to "build a self-sustaining storage market" plus $53 million in
Regional Greenhouse Gas Initiative funding for energy storage projects located on Long Island.
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