New York’s Energy Storage Biz Sees Increasingly Strong Growth

Posted by Betsy Lillian on January 23, 2017 No Comments
Categories : New & Noteworthy

Representing a 30% increase from 2012 through 2015, jobs in New York state’s energy storage sector grew to 3,900 as of the end of 2015, according to a new report from the New York State Energy Research and Development Authority (NYSERDA).

The corporation says New York’s commitment to clean energy helped spur this strong growth. Additionally, says NYSERDA, energy storage will advance the state’s efforts to have 50% of its electricity come from renewable sources by 2030, as it can save power generated from solar, wind, and combined heat and power (CHP) systems for later use.

The report, “The Energy Storage Industry in New York State: Recent Growth and Projections 2015 Update,” was funded by NYSERDA and issued by Industrial Economics Inc.

The report projects that by 2030, New York’s energy storage industry could realize annual global revenues between $5.6 billion and $8.7 billion. In addition, jobs could reach between 17,300 to 26,800 employees (according to a consistent growth scenario versus a delayed market adoption scenario, respectively).

“New York State has become a hub for energy storage technologies – creating new, skilled technology jobs and meeting the needs of utilities, building owners, manufacturers and other large power users,” says John B. Rhodes, president and CEO of NYSERDA. “Under Gov. Cuomo’s Reforming the Energy Vision to create an energy system that is cleaner, more affordable and more resilient, strong growth continues for storage technology and investments.”

NYSERDA says it has invested in more than 50 energy storage technology development projects across the state. It is also working to reduce soft costs associated with distributed energy storage systems by 33% in five years.

In December, NYSERDA hosted a two-day, on-site power conference and expo, which brought together stakeholders in solar, energy storage and CHP to facilitate discussions about how the technologies can work together to help New York meet its clean energy goals.

Along with several partners, NYSERDA established the New York Battery and Energy Storage Technology Consortium (NY-BEST) in 2010 to help advance the state’s energy storage industry. The consortium now includes Fortune 500 companies, start-ups, universities, national research centers and laboratories spanning all facets of the energy sector, NYSERDA says.

“NY-BEST is pleased that our efforts to grow the energy storage industry in New York State are producing positive results,” says Dr. William Acker, executive director of NY-BEST. “Thanks to the state’s clean energy policies and strategic investments, New York State has created an unmatched ecosystem for energy storage companies seeking to grow their businesses, and we look forward to continuing to help foster the growth of this industry in New York.”

The full report can be downloaded here.

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