New York Utilities to Aquire Two Energy Storage Projects by 2019

Earlier this month, the New York State Public Service Commission (PSC) took major steps to promote energy storage development as part of Governor Andrew Cuomo’s Reforming the Energy Vision (REV) initiative. Specifically, the Commission directed the state’s seven investor-owned utilities to deploy at least two energy-storage projects by the end of 2018. These projects will be located at separate distribution substations or feeders and should address at least two types of grid functions, such as boosting the generating capacity of a substation or reducing the stress of peak energy demand on generation sources.

In a statement about the order, PSC chair Audrey Zibelman noted, “With advances in energy storage technologies, utilities should be using energy storage as part of their normal course of business. Now is the time to determine the best locations, technologies, and uses for energy storage, and today’s order will accelerate the utilities’ deployment of this technology.”

New York stands to benefit from the addition of energy storage to the grid. Storage is a key to the REV initiative and a report by Industrial Economics found that New York-based storage companies will bring in over $8 billion in revenue by 2030 and create between 17,300 and 26,800 jobs. Finally, storage will allow New York to expand its renewable portfolio by reducing the negative impact of the variability of solar and wind power.

You can read more about the commission’s order here.