State legislators in New York have unanimously approved legislation establishing an Energy Storage Deployment Program. The bill is expected to accelerate New York’s role in creating economic benefits by increasing grid resiliency and integrating more renewable and distributed resources for optimal utilization of energy resources.
“New York continues to be a hub for energy innovation and is a model for leveraging effective policy and market structures to advance practical solutions,” said Matt Roberts, executive director of the Energy Storage Association. “It is critical that Gov. Cuomo signs this unanimously passed legislation and reaffirms the state’s commitment to addressing costly peak demand and integrating more sustainable energy. This legislation will bring significant benefits to New York ratepayers, improve system reliability, lower energy costs and enable the increased deployment of sustainable energy.”
Senate Bill 5190 and Assembly Bill 6571 ensure prudency in New York’s longer-term electric sector investments by directing the Public Service Commission to develop an Energy Storage Deployment Program, including a storage procurement target for 2030. Doing so will start a deliberative process by which the PSC can determine what is appropriate for New York with input from utilities, customers and other stakeholders.
A long-term, binding storage procurement target will provide a steady commitment to deploy energy storage in New York, driving significant market investment and hiring by diverse firms, ensuring the widest range of products are offered, driving down soft costs and enabling learning by doing.
“In addition to direct benefits to the grid and all ratepayers, signing these bills into law will also drive new investment and job growth in the Empire State,” continued Roberts. “The state is already home to more than 3,900 energy storage sector jobs, surging more than 30% in the last four years. Energy storage is key to New York’s advanced energy economy, and this legislation will propel further economic growth for the state.”
Note: Storage will play a key role in helping New York state meet its ambitious energy goals, which include having 50% of all electricity come from renewable sources by 2030 (per presentation given by Gil Quiniones at EIA in June 2017).
For additional information, please visit the Energy Storage Association.