Editor's note: This article originally appeared on EnerKnol. Subscribe here.
The New York State Energy Research and Development Agency on April 25 announced a funding opportunity for two categories of projects as part of the state’s $400 million investment to attain the ambitious goal of deploying 3 gigawatts of storage by 2030.
The state is making available $150 million for bulk storage projects comprising installations over 5 megawatts that mainly provide wholesale market or distribution services. The remaining $130 million will support retail projects made up of customer-sited systems below 5 megawatts deployed as standalone facilities or paired with solar installations.
Bulk storage projects can avail the funding as a fixed incentive amount that declines each year through 2025, or a utility bulk storage request for proposals scheduled to be issued later this year. The retail incentive allocation will cover two regions — New York City and the rest of the state, but exclude Long Island — with amounts set to decrease over time based on market activity by sector and region.
The New York Public Service Commission announced $40 million last November to support storage-paired solar projects. In December, the commission authorized a $310 million market acceleration bridge incentive, which will help incentivize about two-thirds of the state’s goal of deploying 1.5 gigawatts of storage by 2025.
NYSERDA said that an additional $70 million will be allocated in the future to tap opportunities that have the greatest potential to support a self-sustaining storage market. Further, $53 million will be made available this year for retail and bulk projects on Long Island, using funds from the Regional Greenhouse Gas Initiative, a nine-state compact that established the nation’s first mandatory emissions trading program.
The agency will host a webinar on May 2 to discuss the bulk incentives and May 3 for those interested in the retail incentives.
The agency also announced that the New York Power Authority has issued a request for information to identify battery companies interested in competitive solicitations or storage development opportunities. The request is open to storage developers, battery integrators, or other companies that utilize lithium-ion technology in utility-scale applications. Responses are due May 13.
EnerKnol is a provider of regulatory data, analytics, and tracking software for North American energy markets.
Recommended Reading
Santos’ Pikka Phase 1 in Alaska to Deliver First Oil by 2026
2024-04-18 - Australia's Santos expects first oil to flow from the 80,000 bbl/d Pikka Phase 1 project in Alaska by 2026, diversifying Santos' portfolio and reducing geographic concentration risk.
Iraq to Seek Bids for Oil, Gas Contracts April 27
2024-04-18 - Iraq will auction 30 new oil and gas projects in two licensing rounds distributed across the country.
Vår Energi Hits Oil with Ringhorne North
2024-04-17 - Vår Energi’s North Sea discovery de-risks drilling prospects in the area and could be tied back to Balder area infrastructure.
Tethys Oil Releases March Production Results
2024-04-17 - Tethys Oil said the official selling price of its Oman Export Blend oil was $78.75/bbl.
Exxon Mobil Guyana Awards Two Contracts for its Whiptail Project
2024-04-16 - Exxon Mobil Guyana awarded Strohm and TechnipFMC with contracts for its Whiptail Project located offshore in Guyana’s Stabroek Block.