New York Battery and Energy Storage
Technology Consortium, Inc.
NEWS
FOR IMMEDIATE RELEASE
Battery and Energy Storage Technology Consortium
Releases Energy Storage “Roadmap” for New York’s Electric Grid
Energy storage technology is key to achieving grid modernization and renewable energy goals
(Albany, NEW YORK, February 17, 2016) – The New York Battery and Energy Storage Technology Consortium (NY-BEST) – a consortium of more than 150 battery and energy storage companies, universities, industry and government partners -- today released the Energy Storage Roadmap for New York’s Electric Grid. The Roadmap recommends that the State’s electric grid have 2 GW of multi-hour energy storage by 2025 and 4 GW by 2030, to achieve the State’s grid modernization and renewable energy goals established under the State’s Reforming the Energy Vision (REV) and Clean Energy Standard initiatives.
“Energy storage offers tremendous benefits for New York’s electric grid and economy. From its ability to provide power when the sun isn’t shining and the wind isn’t blowing, to its ability to eliminate the use of dirty peaker plants on the hottest summer days, energy storage is a cost-effective solution for many of the challenges facing New York’s electric grid. NY-BEST looks forward to working together with industry, utilities, government and others to act on the recommendations in the Roadmap and harness the vast benefits that energy storage offers New York’s electric grid and our economy,” said Dr. William Acker, Executive Director of NY-BEST.
Energy storage technologies include advanced batteries – with a variety of chemical compositions -- fuel cells, ultracapacitors, flywheels, compressed air, pumped hydro, thermal storage, as well as others. The energy storage industry is experiencing rapid growth globally and is projected to grow exponentially over the next 10-15 years; with analysts projecting the market for energy storage, excluding vehicles, could grow to $400 billion by 2030.
The Roadmap recommends having 2 GW of multi-hour storage capacity on New York’s electric grid by 2025 and 4 GW by 2030 to modernize grid system operations, substantially reduce expensive “peak” demand, and improve the reliability and resilience of the grid, all fundamental goals of the State’s REV initiative. This amount of additional energy storage is also needed to provide flexibility for new intermittent renewable energy sources that will be added to the electric grid as the State moves toward its goal of generating 50 percent of its energy from renewable sources by 2030.
The Roadmap describes many of the obstacles faced by the energy storage industry today and recommends industry, government policy makers and stakeholders take specific actions to remove these obstacles and ensure that New York’s electric grid and economy realize the enormous benefits of energy storage. Specific recommendations include: regulatory and ratemakings reforms, creation of common financing methods, reducing installed costs and creating new bridge incentives for energy storage.
The Energy Storage Roadmap for New York’s Electric Grid is available on NY-BEST’s website at www.ny-best.org
About NY-BEST
The New York Battery and Energy Storage Technology (NY-BEST) Consortium is a non-profit organization established in 2010 with initial support from the New York State Energy Research and Development Authority (NYSERDA) to position New York State as a global leader in energy storage technology including applications in transportation, grid storage, and electronics. An industry-led consortium with more than 150 organizational members, NY-BEST’s mission is to catalyze and grow the energy storage industry and establish New York State as a global leader in the energy storage industry. Visit us on the web at www.ny-best.org
Media Contact: Denise Sheehan, NY-BEST
Phone: 518.463.8644 (o), 518.429-6924(c)
Email:
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