The $55 million in funding will be initiated by the New York State Energy Research and Development Authority (NYSERDA) issuing $15 million in incentives.
NYSERDA will provide Long Island residents and commercial businesses with funding through the Retail Energy Storage Incentive programme.
Projects will include standalone systems or those paired with solar, over the next five years.
The aim is to reduce the costs of energy storage technologies and scale up the adoption of renewable energy resources.
The funding is in line with efforts to achieve the state’s energy storage target of 3,000MW by 2030, equivalent to powering 40% of all New York homes.
Expanding clean energy adoption will help the state to reduce its carbon footprint and to secure its energy supply during peaks. To date, Long Island has 14,000 solar projects, totaling over 111MW.
Assembly Member Steve Englebright, Chair of the Assembly Environmental Conservation Committee, said, “Incentivizing energy storage projects on Long Island is a necessary step in order to develop our renewable resource capacity. This will help reduce our reliance on fossil fuels, stabilize energy bills for ratepayers, and reduce greenhouse gas emissions. I applaud Governor Cuomo for this initiative and look forward to more proposals that will ensure New York State takes the lead in addressing climate change.”
These Long Island energy storage incentives build on the $280 million in incentives announced by Governor Cuomo in April as part of a $400 million investment across New York.