New York Offers $8.1M to Reduce Energy Storage Soft Costs

New York is offering $8.1 million for strategies to reduce energy storage soft costs, which can account for more than 25 percent of the price.

The New York State Energy Research and Development Authority (NYSERDA) issued a request for proposals (RFP) this week seeking contractors to provide technical assistance.

The authority sees energy storage as “a significant economic development opportunity,” says the RFP. Analysts expect global energy storage installations to grow from a 538 MW in 2014 worth $675 million to 21,000 MW in 2024 worth $15.6 billion, and up to $400 billion in annual sales by 2030.

The state also expects energy storage to be a pillar of the electric system as that state’s Reforming the Energy Vision policy takes shape and creates a more distributed grid.

New York in a blackout during Hurricane Sandy. Image: wikimedia commons / David Shankbone.

New York in a blackout during Hurricane Sandy. Image: wikimedia commons / David Shankbone.

Because local factors tend to drive energy storage soft costs, NYSERDA believes it can have an influence on them. The authority seeks strategies to drive down soft costs by 25 percent per kWh by 2019 and 33 percent or more by 2021 compared to a 2015-16 baseline of approximately $220/kWh.

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