As the nation’s power grid grapples with the effects of aging infrastructure and climate change, new policies and mandates are up to the occasion. Earlier this year, Governor Kathy Hochul doubled the state’s battery storage target to 6,000 megawatts. (About 1,000 megawatts can power just over 200,000 homes in New York State.) In addition, the new federal climate law has expanded and extended a range of investment tax credits associated with battery storage projects, which most likely will fuel investments in this sector of approximately $ 160 billion over the next 10 years, according to a recent analysis.
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New York has one of the most ambitious renewable energy goals in the country, which aims to generate 70% of all electricity from renewable energy by 2030. The challenge is that much of the electricity comes from wind, solar and hydro projects. offshore cannot be generated when and where it is most needed. Batteries can help solve this problem by storing them when demand is high. But in New York City, where land is scarce and expensive and energy needs are constant, rather fierce real estate turbulence is occurring among utilities and private energy developers who are feeling the pressure to build more and more buildings.
There are many variables in finding the right space, said David Arfin, chief executive of NineDot Energy, a Brooklyn-based energy developer who owns and operates the storage system in the Bronx. This includes access to network connectivity, zoning issues, and fire department regulations. “It’s definitely a headache,” he said. “A lot of times you look at the topography and size of the land and then literally look up to see what kind of power lines are running nearby,” added Adam Cohen, the company’s chief technology officer.