As reported by Utility Dive, NYSERDA (New York State Energy Research and Development Authority) CEO Alicia Barton took the stage at the Energy Storage North America conference on Thursday November 7, where she detailed the rapid progress of NYSERDA’s Market Acceleration Bridge Incentive Program for energy storage.
NYSERDA announced this energy storage incentive program back in April of 2019, in an effort to encourage the growth of the energy storage sector through the development of battery storage projects, big and small, across the state of New York.
The incentives package outlined as part of this program totals $405 million. Now, just over six months later, an impressive portion of the package has already been snapped up. Of the $405 million initially offered, $92 million has been awarded across 37 different storage projects. In terms of energy storage capacity, this comes out at about 150 MW—an impressive start for all at NYSERDA, and the state of New York in general.
With an energy storage target of 3,000 MW by 2030, early uptake for the NYSERDA Market Acceleration Bridge Incentive Program signals positive progress on the road to this goal. A huge number of participants and applications for the program have been recorded already, as noted in the figures above, and this rapid uptake looks set to continue in the near future.
Of course, the state of New York has set a number of ambitious clean energy targets covering not just energy storage, but also distributed solar energy, offshore wind power, and other renewables. Under the New York Climate Leadership and Community Protection Act, these clean energy targets include, but are not limited to, the following:
Energy Storage: 3 GW by 2030.
Distributed Solar: 6 GW by 2025.
Offshore Wind: 9 GW by 2035.
The news that almost a quarter of the NYSERDA energy storage incentives have been snapped up already and assigned to storage projects across the state of New York will be music to the ears of those striving toward a clean, renewable future for NY.
By Shane Croghan