Key Capture Energy Guest Blogs about Importance of Energy Storage in Modernizing NY State's Electric Grid

 

 

 

As New York moves towards 50% clean energy by 2030, energy storage will continue to play an integral role of modernizing the state’s electric grid. The energy landscape in New York is quickly evolving, and New York State is increasingly incorporating storage technologies into the planning of its electric future.

In his 2018 State of the State Address, New York Governor Andrew Cuomo vowed to lead the fight against climate change by continuing to pursue greenhouse gas emissions reduction targets of 40 percent by 2030 and 80 percent by 2050 through the integration of clean energy. In conjunction with these clean energy goals and to address the challenges with integrating and maximizing the benefits of clean energy resources, Governor Cuomo delivered the largest energy storage target per capita recorded yet by any state. His initiative strives to increase the transmission of clean and renewable energy while overcoming traditional grid infrastructure upgrades. Governor Cuomo pledged to commit $200 million of financing from the Green Bank and at least $60 million from the New York State Energy Research and Development Authority (NYSERDA) to achieve progressive energy storage deployment targets, in furtherance of his plan to achieve a nation-leading target of 1,500 megawatts (MW) of energy storage by 2025.

“Energy storage technologies serve a critical role in promoting a clean energy economy,” Governor Cuomo said regarding the energy storage deployment program. “Not only will energy storage technologies relieve pressure on existing transmission and grid infrastructure, they will enhance the development and uptake of renewable energy and create new ‘green’ jobs.”

State agencies also are taking action to reaffirm Governor Cuomo’s energy goals. In June of 2018, NYSERDA and the Department of Public Service issued New York State’s Energy Storage Roadmap, which identifies near-term recommendations for how energy storage can deliver value to New York electricity consumers and cost effectively address the needs and demands of the grid. In the roadmap report, New York targeted an additional $350 million for both standalone storage projects and storage coupled with renewable energy generation. The report also encourages the Public Service Commission to establish a larger storage target by 2030.

Alicia Barton, President and CEO, NYSERDA said, "With this Roadmap, Governor Cuomo has brought New York once again to the forefront of the nation in developing new energy solutions that will fuel our efforts to build a cleaner energy system for future generations. The Roadmap will serve as a guide to jumpstarting the market for advanced energy storage projects in New York on our path to achieving 50 percent renewable energy by 2030 and turn the Empire State into a global hub for the burgeoning energy storage industry."

Key Capture Energy, based in Albany, New York was founded in 2016 to independently develop utility-scale battery storage projects that would meet the needs of the electric grid in New York and surrounding northeastern states. Little did we know that soon after we initiated the development of our first project, KCE-NY 1, Governor Cuomo would set a state-wide storage goal. The State of New York’s commitment to strategically deploy energy storage to strengthen the grid through these ambitious goals will result in roughly $2 billion in gross benefits, the avoidance of more than one million metric tons of CO2 emissions, and will support approximately 30,000 jobs.  We are living proof of these assumptions. Storage projects do bring new jobs, they do bring grid stability, they do bring a cleaner energy future, and they do bring an economic boost to the areas in which they are constructed. We recently broke ground on our KCE-NY 1, a 20 MW battery storage project, the largest lithium-ion batter storage project in New York State, and are thrilled to be a part of bringing Governor Cuomo’s plan to fruition. 

   

 

 

 

Author Dan Fitzgerald, Chief Operations Officer, Key Capture Energy
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