New York Steps Up Energy Storage Investment, Sets 1,500 MW Storage Goal

New York Gov. Andrew Cuomo yesterday said that the state is launching an initiative to deploy 1,500 MW of energy storage by 2025. To support that goal, Cuomo also proposed that the NY Green Bank commit at least $200 million for storage-related investments.

The announcements were part of New York’s 2018 State of the State proposal.

The 1,500-MW deployment initiative builds on energy storage legislation signed by the governor at the end of 2017 that directs the public service commission to determine by the end of this year what policies will drive a long-term storage goal for the state.

Cuomo yesterday said that he will direct state energy agencies and authorities to generate a pipeline of storage projects through utility procurements, advance regulatory changes in utility rates and wholesale energy markets, incorporate storage into criteria for large scale renewable procurements, and reduce regulatory barriers.

The governor also said he will direct the New York State Energy Research and Development Authority to invest at least $60 million in storage pilots and activities to support storage deployment in New York.

Lead image credit: Paralog | Flickr