NYSERDA Offers $15.5M in Funding for Energy Storage Projects

The New York State Energy Research and Development Authority (NYSERDA) announced on April 19 that it is making a total of $15.5 million in funding available for energy storage projects that can support renewable energy technologies, save customers money, and ease peak electric demand burdens on the power grid.

The funding is part of the state’s long-term investment in the energy storage sector as part of Governor Andrew M. Cuomo’s Reforming the Energy Vision (REV) strategy to build a cleaner, more resilient, and more affordable energy system for all New Yorkers.

As it publicized the new funding, NYSERDA emphasized that energy storage can save power generated from clean energy systems such as solar, wind, and combined heat and power (CHP) for later use, enabling buildings to reduce their reliance on the power grid during peak demand periods when electricity rates are the highest. The ability to store energy also can make it possible for buildings and other critical facilities to continue to function in the event of disruptions on the power grid, the agency said.

To date, NYSERDA has invested in more than 50 energy storage technology development projects across the state as part of its energy storage program. Through the initiative, the agency is aiming to reduce “soft costs” associated with distributed energy storage systems by 33 percent in five years. These are typically non-hardware costs for such activities as permitting, financing, customer acquisition and interconnection.

The funding also is meant to demonstrate how energy storage can provide multiple benefits and increase revenues among various stakeholders (for example, electricity customers, storage vendors, developers, and utilities).

“Under Governor Cuomo’s leadership, the state is leading in the development and use of clean energy technologies, including storage,” said NYSERDA CEO John Rhodes. “We are now seeking the next wave of innovation to bring to customers the benefits of energy storage, and to make energy use more efficient and the environment cleaner for all New Yorkers.”

Interested parties should submit concept papers describing their storage projects. Initial concept papers will be accepted through March 1, 2020 or until all funds are committed. Concept papers should focus on technologies that are already commercially available and have the potential for replication throughout the state. The proposed projects must show how they can support the state’s energy goals including renewable generation and greenhouse gas reduction.

Through a competitive process, NYSERDA will select the best projects to submit follow-up proposals for feasibility studies or full demonstration projects. The proposals selected will receive funding to complete their studies and demonstration projects.

Funding for the projects will be provided through the 10-year, $5.3 billion Clean Energy Fund launched by Governor Cuomo in January 2016.

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