Governor Cuomo Commits $200 Million to Meet 1500MW Storage Target by 2025

On January 3rd, as part of New York’s 2018 “State of the State” address, Governor Cuomo delivered the largest energy storage target per capita recorded yet by any state, with the goal of increasing transmission of clean and renewable energy while overcoming traditional grid infrastructure upgrades. Reaching this goal is projected to employ 30,000 New Yorkers, produce $2 billion in energy value (while also reducing reliance on dirty and inefficient generation), and solidify New York as a home to the clean tech industry. The Governor plans to facilitate the planned development by committing investment of $200mm from the Green Bank and at least $60mm from NYSERDA to help drive down both hard and soft costs of energy storage development.

Key Capture Energy is already on the forefront of the energy storage wave in New York and looks forward to developing and constructing the first significant portions of this target in the coming years.

Find more details in the press statement released, and NY-BEST’s commentary on this monumental move.