The New York State Energy Research and Development Authority (NYSERDA) has signed a contract with Lincoln Park DG LLC to build a 20MW energy storage project in the Town of Ulster.
The energy storage system replaces planned projects that would have used fossil fuels to generate power for the local community.
The project is being implemented using $8.8 million in funding secured from NYSERDA’s Market Acceleration Bridge Incentive Programme, which provides incentives for bulk and retail storage projects.
The four-hour energy storage system is expected to be completed in early 2021 and supports Governor Andrew M. Cuomo’s energy storage deployment target of 3,000MW by 2030.
Achieving this target is expected to deliver more than $3 billion in benefits to New Yorkers and avoid two million metric tons of carbon dioxide emissions.
The project will enable both the town and the state to expand portfolios of renewable energy resources.
Alicia Barton, President and CEO, NYSERDA said, “Advancing energy storage installations across the state enables more renewables to be integrated into our electric grid, while reducing harmful greenhouse gas emissions and making local communities healthier. As New York moves toward achieving Governor Cuomo’s historic and nation-leading clean energy targets, we will continue to forge partnerships with stakeholders such as GlidePath to further grow the rapidly expanding energy storage sector and our green economy.”
NYSERDA’s Market Acceleration Bridge Incentive Programme is part of a $405 million energy storage investment to help accelerate industry growth and drive down energy storage deployment costs to build a sustainable and affordable market. It is complemented by a $250 million commitment that the New York Power Authority (NYPA) made last December to accelerate the flexibility of the electric grid by collaborating on grid-scale energy storage projects and addressing market and financing barriers.