NY governor seeks 6 GW of energy storage, $1B for EVs, $500M for offshore wind – EQ Mag Pro
Gov. Kathy Hochul on Jan. 5 called for New York to double its energy storage target to at least 6 GW by 2030 to help integrate significant new volumes of variable renewable energy resources.
The ambitious storage commitment was among a host of clean energy initiatives that Hochul announced in a State of the State address. Other proposals include a $1 billion investment to support electric vehicle adoption and charging; $500 million to develop offshore wind supply chains and port infrastructure aimed at stimulating 2,000 new jobs; and creating a green hydrogen hub to compete for nearly $10 billion in federal funding.
“As we build out our wind-energy capacity, and continue our transition to clean energy, our reliance on fossil fuels must be phased out,” Hochul said.
The initiatives are aligned with a state law that seeks to reach 70% renewable electricity by 2030, 100% zero-emissions electricity by 2040 and a net-zero greenhouse gas emissions across New York’s economy by 2050.
Hochul also intends to establish a world-class battery research and manufacturing center at Binghamton University led by M. Stanley Whittingham, a Nobel laureate.
First steps
William Acker, executive director of the New York Battery and Energy Storage Technology Consortium, applauded the proposals and said the industry-led group would work with Hochul, Legislature, state agencies and energy storage companies to achieve the governor’s outlined goals.
As a first step toward the energy storage deployment target of at least 6 GW, Hochul said she will direct the Department of Public Service and the New York State Research and Development Authority, or NYSERDA, to update the state’s energy storage road map.
The updated road map will identify research and development needs to accelerate technology innovation, particularly for long-duration energy storage, according to a 237-page document detailing the governor’s proposals. “It will also outline ways to incentivize the private market to produce sufficient storage capacity to meet New York’s ambitious clean energy targets,” the document said.
Despite New York’s strong energy storage targets, less than 2,000 MW of new battery resources currently are planned in the state, according to S&P Global Market Intelligence data.
Hochul said she will direct NYSERDA, the New York Power Authority and Empire State Development to make New York state a green hydrogen hub. The state will develop a set of proposals to secure one of four federally funded regional hydrogen projects authorized in the Infrastructure Investment and Jobs Act.
“[The overall proposal] will demonstrate a minimum of $1 billion in private and public non-federal funding,” the state-of-the-state document said.
Source: spglobal
