Nonprofit New York City Energy Efficiency Corp. (NYCEEC) on Dec. 6 said it made a 10-year project loan of more than $1 million to bring large-scale battery storage technology to a privately owned low-income housing development in Brooklyn, NY.
The funding will support a lithium-ion battery system installation by Liberty Lake, Wash.-based Demand Energy. NYCEEC said that the system will be used to store power generated onsite by the Marcus Garvey housing complex’s solar panels and fuel cell systems—or lower-cost off-peak Con Edison power. It will be the first battery storage microgrid installation at a low-income property in greater New York, according to NYCEEC.
Owners of the Marcus Garvey Apartments in Brooklyn have installed 400 kW of solar and plan to install 400 kW of fuel-cell generating capacity.
“Managing on-site generation and extracting value from the demand response market have made battery storage a smart, cost-effective choice,” Brian Asparro, chief commercial officer for Demand Energy, said in a statement. “This software-controlled microgrid is exactly what building owners and Con Edison are looking to implement. NYCEEC’s innovative approach—non-recourse debt financing—made it possible.”
Lead image credit: Nicolas Vollmer | Flickr