New York Governor Seeks to Double Energy Storage Target, Invest $1 Billion in Electric Vehicles

New York Governor Kathy Hochul has announced a plan to increase the state’s energy storage deployment target by twofold to reach at least 6 gigawatts by 2030, as part of the 2022 State of the State. This marks the largest state-level target intended to facilitate New York’s transition to a low-carbon future, providing a pathway to displace fossil-fueled generators. Governor Hochul also announced an investment of $1 billion to accelerate the adoption of electric vehicles and related charging infrastructure. The initiative will invest $175 million over five years for EV charging stations through federal formula funds focusing on fast charging for light-duty vehicles along highway corridors.

New York is in the process of implementing the 2019 Climate Leadership and Community Protection Act, which requires the state to reach 70 percent renewable electricity by 2030, zero-emissions electricity by 2040, and net-zero greenhouse gas emissions economy-wide by 2050.

Under the new plan, the Department of Public Service (DPS) and the New York State Energy Research and Development Authority (NYSERDA) would be tasked with updating the energy storage roadmap and advancing market improvements and cost-efficient procurement methods for energy storage. A new battery technology development and manufacturing center would also be established at Binghamton University in addition to increasing storage targets.

NYSERDA and DPS will also implement steps to accelerate EV deployment and charging infrastructure build-out to encourage private investment. Governor’s Hochul’s agenda also includes a plan to advance the adoption of green hydrogen technology, competing for nearly $10 billion in federal funding for green hydrogen research and development under the Infrastructure Investment and Jobs Act enacted in November.

Under the program, both the agencies will make the installation process of EV charging stations simpler and attractive by encouraging business models that offer turnkey installations, guidance, and assistance to budding EV charging station owners. It will also engage transit agencies in developing a mechanism to achieve 100 percent zero-emissions bus transport and build a cost-efficient, emission-free, robust and smart bus charging infrastructure. NYSERDA will also explore options for innovative as-a-service models that attract private investment to fund the state’s zero-emission bus market.