Creating Opportunities for Energy Storage in New York

In a T&D World article, Guidehouse Insights discusses how new programs, goals, and financial incentives are impacting the state’s energy storage future

An ambitious new energy storage goal along with millions of dollars in incentives has generated excitement across New York’s electricity landscape.

In a T&D World article, Ricardo Rodriguez, research analyst at Guidehouse Insights, outlined the state’s Market Acceleration Bridge Incentive Program (MABI) — which provides $280 million to spur the first gigawatt of New York’s 2030 energy storage deployment goal — along with other current and future opportunities expected to revolutionize the use of energy storage.

“While New York state’s MABI program is helping to develop a sustainable energy storage market, wholesale market revenues will strongly impact the speed and pervasiveness of storage deployment in New York and may tip the balance between competing projects,” Rodriguez said.

He added that although current economics are challenging to forecast, developers and investors should act now to gain a toehold in a market, which has the potential to upend the industry structures that have defined electricity markets for the last century.

Read the T&D World Article
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