Santa Clara, California – September 27, 2018 – ENGIE Storage, formerly Green Charge, applauds the passage of California’s SB 700, which will extend the state’s Self-Generation Incentive Program for an additional five years. The new funding is expected to help add nearly 3,000 megawatts of behind-the-meter batteries to the state by 2026.
SB 700 will fund SGIP through the year 2025 with up to $800 million in additional investments; creating stability and certainty for the marketplace. The extension will also increase opportunities to pair energy storage with solar projects throughout the state as California continues to push forward towards a clean energy economy.
“The passage of SB 700 provides critical support for the energy storage market, enabling more schools, farms and businesses to reduce their electric bills,” said ENGIE Storage Chief Executive Officer Christopher Tilley. “Additionally this bill will help California achieve its ambitious renewable policy goals. The state cannot achieve its goal of 100 percent carbon-free power without the help of energy storage. We salute the work of State Senator Scott Wiener for his leadership throughout the two-year legislative process in authoring this bill and thank Governor Jerry Brown for his ongoing vision in ensuring that California leads the world in the clean energy storage sector.”
About ENGIE Storage Services NA LLC
ENGIE Storage, formerly Green Charge, helps power the world more efficiently and sustainably. As the nation’s number one distributed energy storage company, it serves energy producers, distributors, and consumers, including utilities, network operators, and energy consumers in business and government. Visit www.engiestorage.com to learn more.
ENGIE Storage is part of ENGIE North America, which manages a range of energy businesses in the United States and Canada, including clean power generation, cogeneration, and energy storage; retail energy sales; and comprehensive services to help customers run their facilities more efficiently and optimize energy and other resource use and expense. Nearly 100 percent of the company’s power generation portfolio is low carbon or renewable. Globally, ENGIE is the largest independent power producer and energy efficiency services provider in the world, with operations in 70 countries employing 150,000 people, including 1,000 researchers in 11 R&D centers.