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New York Unveils Roadmap For 1,500 Megawatts of Energy Storage, Citing $2 Billion in Consumer Benefits

The New York Public Service Commission and the New York State Energy Research and Development Authority called for additional incentives to help lift the nascent energy storage industry off the ground as the state seeks to deploy 1,500 megawatts of capacity by 2025, according to a June 21 “roadmap” report. The regulators recommend a “market acceleration bridge incentive” to improve project economics and reduce soft costs, including $350 million to fast-track the adoption of the systems at the residential and utility scale. They call for changes to utility rates, utility solicitations, and emission values to reflect the benefits of storage projects; wholesale market reforms to facilitate storage participation; and the identification of “high-need” areas of the grid where the economics of the technology would be most advantageous. Meeting a goal to deploy 1,500 megawatts of energy storage will provide nearly $2 billion in consumer benefits including distribution system savings, reduced emissions, and enhanced grid resiliency, the report found.

June 21, 2018
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