Thursday 4 July 2019

Long Island charged up with $55m energy storage investment

Long Island charged up with $55m energy storage investment

An investment totalling $55 million (£43.7m) has been announced for residential and commercial energy storage projects on Long Island.

The programme is expected to help accelerate progress towards achieving New York’s target of deploying 3,000MW of energy storage capacity by 2030 – equivalent to powering 40% of homes.

An initial $15 million (£12m) of funding is being provided by the New York State Energy Research and Development Authority, with the rest of the grants to be allocated within the next three to five years.

The incentives announced today will support standalone energy storage systems or those paired with solar panels.

New York Governor Andrew Cuomo said: “With our nation-leading clean energy goals and aggressive strategy to combat climate change, New York continues to set the example of climate leadership for other states across the country.

“These incentives for energy storage will help Long Islanders grow their clean energy economy and create jobs while also improving the resiliency of their grid in the face of more frequent extreme weather events.”

Written by

Bruna Pinhoni

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