The credit facility will help fund NineDot Energy’s pipeline of battery storage projects in New York State, and is the first pure play energy storage transaction completed by NY Green Bank.
pv magazine USA ventured to John Jay College in west midtown Manhattan for the NYC Solar + Storage Summit 2023 conference.
The Paris Agreement of 2015 marked a milestone in the effort to combat climate change, and since then, governments including Canada and the United States have undergone a political and economic transformation focused on achieving net-zero goals, with renewable energy resources, particularly solar energy, playing a vital role.
During the noon hour on May 18, 2023, NYISO reported that consumer and utility-side solar resources generated 3.33 GW of clean energy output, while the behind-the-meter portion of 3.2 GW and utility-operated 130 MW accounted for 20% of the state’s electricity demand.
The solar developer is also seeking another 16 MW of solar, mostly in the NYSEG power company region, to fill out the portfolio.
New York’s Large Scale Renewable Energy Program has awarded over 6.8 GWac of solar projects since 2017, with 80 MW coming online this spring.
The state expects to save $2 billion a year, while meeting 18% to 25% of current seasonal peak demand, once the total deployed capacity reaches 6 GW by 2030.
The Empire State’s clean energy advocacy groups are within days of receiving the state’s Energy Storage Roadmap framework.
This investment helps secure domestic supply chains for an essential component in the solar cell manufacturing process.
NYSERDA has launched a Request for Information to gain stakeholder feedback on refinements to the state’s Large Scale Renewables procurement and Clean Energy Standard programs.
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