California isn’t the only U.S. state forging ahead and instituting incentives to develop and deploy distributed energy storage solutions as a means of reducing air pollution and enhancing the reliability, resiliency and affordability of the electric grid. The New York State Energy Research and Development Authority (NYSERDA) and Con Edison are providing financial incentives for energy efficiency and demand management projects completed by June 1, 2016.
NYSERDA and Con Edison are offering additional incentive rates over and above those provided via other offers to Con Ed customers and contracted third-party developers “that provide system-coincident peak demand reduction during the summer months,” NYSERDA explains on its website. Projects need to be able to reduce load by 500 kilowatts (kW) or more in order to qualify for additional bonus incentives of up to 15 percent.
Per NYSERDA-Con Ed’s incentive bonus rate schedule, qualifying thermal and battery storage systems installed before June 1, 2016 can qualify for payouts of $2,600 and $2,100 per kW. Projects or project portfolios, must have a combined peak demand reduction of 50kW or greater.
Reducing emissions and better meeting summertime peak power demand
Peak demand reduction is defined as that which “occurs during the summer capability period, between the hours of 2 p.m. and 6 p.m, Monday through Friday, from June 1 through September 30, excluding legal holidays.”
Bonus incentives are available for large energy storage and demand reduction projects of more than 500 kW. The bonus incentives are capped at 50 percent of installed project cost.
Con Edison will assume responsibility for verifying that baseline conditions are met by conducting pre-installation inspections and technical reviews.
Applications and technical data requirements for NYSERDA-Con Edison’s Demand Management Incentive program are available on NYSERDA’s website.
Green Charge worked closely with Con Edison in developing the initial version of our GreenStation intelligent energy storage product.
We can help your business capitalize on NYSERDA-Con Edison’s energy storage incentives. Contact our New York sales team if you are interested in finding out more about how we can help you deploy a distributed energy storage system on-site at your business in New York for no money down.