$55 Million Investment Announced for Energy Storage Projects on Long Island

On 3 July New York State Governor Andrew M. Cuomo adopted a new program to support the installation of energy storage – including commercial and residential storage – on Long Island. The aim of the $55 million initiative is to support energy storage projects in order to reach New York's target of 3,000 MW of energy storage deployed by 2030, which is equivalent to powering 40 percent of New York's homes.

The New York State Energy Research and Development Authority (NYSERDA) will provide an initial rollout of nearly $15 million as part of its Retail Energy Storage Incentive Program. The remainder of the funds will be allocated within the next three to five years with the focus on energy storage installed at customer sites for standalone systems or systems paired with solar.

By driving down energy costs and scaling up the market for these clean energy technologies, the program supports Governor Cuomo's Green New Deal, which will put New York on a path to carbon neutrality. "With our nation-leading clean energy goals and aggressive strategy to combat climate change, New York continues to set the example of climate leadership for other states across the country," Governor Cuomo said.

Source: NYSERDA |

Image Source: pixabay | 

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