Energy Incentive Update!
“These are indeed exciting times for energy storage in New York!” –Bill Acker, Executive Director, NY-BEST
ConEdison and New York State have created a new Demand Reduction incentive for commercial energy customers.
What is the Demand Management Program?
The Demand Management Program offers enhanced incentives for energy efficient technology that will help improve operational performance of buildings and reduce electric demand.
The new incentive for battery storage is 350% larger than before!
|New incentives for 100 kW battery storage module|
|Prior incentives||New incentives through June 2016|
|$600 per kilowatt of battery||$2,100 per kilowatt of battery|
|100 kilowatts of battery storage||100 kilowatts of battery storage|
|$60,000 incentive||$210,000 incentive|
Why are the new demand management incentives available?
New York State has recognized the significant reliability needs that could occur if the Indian Point Energy Center was retired.
These incentives are available to help achieve 125 MW of permanent peak-coincident electric load reductions by June 1, 2016.
Measures eligible for the proposed incentives include thermal storage, battery storage, demand response enablement, building management systems, chiller/heating ventilation and air conditioning, lighting, and fuel switching.
Eligibility and incentive requirements
- Projects must be installed and operational by June 1, 2016.
- Projects must be located in New York City or Westchester County in ConEdison service territory.
- Projects or portfolios of projects must have a combined peak demand reduction of 50kW or greater.
- Proposed incentives are capped at 50% of installed project cost. Bonus incentives are available for large projects over 500 kW.
- Projects or project portfolios that achieve peak demand reduction and satisfy the proposed incentive eligibility requirements, and are also eligible for incentives through a Con Edison or NYSERDA existing program, will receive a combination of both incentives in one bundle. (New York Power Authority customers are not eligible.)
State and utility incentives have never been higher! An integrated energy management system including battery storage will:
- Reduce utility bills by thousands of dollars,
- Overcome power quality issues,
- Participate in demand response incentives or to
- Integrate solar or wind generation into your facility, and
- Provide emergency backup power.
Install a completely integrated energy management system:
- ready for interconnection to a range of configurable, optimized energy sources and power outputs,
- while delivering continuous power and energy regulation supply, and
- harvesting the new incentives to reduce the payback period dramatically.