On January 3rd, New York governor Andrew Cuomo delivered a state energy storage target of 1500MW via the private market by 2025 and has put up $260 million in state money to help drive the investment.
In the annual “State of the State” address, varying proposals – from combating MS-13, to cleaning up the Hudson River, to expanding clean energy jobs – were delivered to start the new year. The energy storage target delivered seems to be an extension or culmination of prior state legislation requiring targets be set.
The 20th proposal of New York’s State of the State address was specifically directed at “clean energy jobs and climate agenda.” Here are the key sub-components of the legislation:
- Expanding the Regional Greenhouse Gas Initiative (RGGI) and reducing emissions from the highest-polluting, high demand “Peaker” power plants
- Issuing solicitations in 2018 and 2019 to develop 800MW of offshore wind while developing the job ecosystem surrounding the industry
- A 1500MW energy storage target, a $200 million fund at the state Green Bank to help drive pricing down for energy storage through strategic deployment
- A “Zero Cost Solar for All” program for 10,000 Low-Income New Yorkers
- NYSERDA being directed to invest at least $60 million in storage pilots plus other activities that reduce barriers and costs when deploying energy storage – such as developing smarter permitting, customer acquisition, interconnection, and financing processes
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