New York Solar Battery Storage Incentives
Learn About NY State’s Clean Energy Strategy and Upcoming Energy Storage Incentives
After seeing firsthand the devastating effects of Hurricane Sandy, New York’s Governor Cuomo began an ambitious quest to rebuild, strengthen, and revitalize the state’s energy system through his strategy: Reforming the Energy Vision.1 Which ensures that by 2030, 50% of NY State’s electricity will come from renewable resources such as solar, hydro, and wind.2
With the help of the New York State Energy Research and Development Authority (NYSERDA), New York Public Service Commission (PSC), the New York Power Authority (NYPA), and the Long Island Power Authority (LIPA) — Governor Cuomo’s Reforming the Energy Vision — will create a clean, resilient, and more affordable energy system for all New Yorkers.
Reforming the Energy Vision also includes a major component called NY-SUN, and it will add solar incentives for energy storage to accelerate the growth of solar battery storage home and business projects throughout the State of New York.3
What Is Reforming the Energy Vision (REV)?
Reforming the Energy Vision, commonly known as REV, is a comprehensive, multi-initiative energy plan designed to help New York residents make more-informed energy choices — by creating better energy products, stimulating energy innovation, and bringing new jobs and investments into the state4; while cutting greenhouse gas (GHG) emissions by 80% by 2050.5
How Many Initiatives Does REV Have?
REV has 40+ initiatives grouped into seven general categories, including:6
1. Renewable Energy
Minimize the costs and barriers of renewable energy solutions, like rooftop solar panels and grid-scale wind farms, to make them more competitive in the energy market.
2. Building & Energy Efficiency
Increase the energy efficiency of New York’s business and residential buildings to reduce grid usage and electricity costs, as well as GHG emissions.
3. Clean Energy Financing
Animate energy markets and attract private capital to support the cost of New York’s transition into clean, renewable energy resources.
4. Sustainable & Resilient Communities
Empower New York’s local governments to adopt clean energy solutions that meet their needs and help revitalize their communities.
5. Energy Infrastructure Modernization
Develop distributed energy resources to enhance and maintain New York’s power-generation infrastructure.
6. Innovation, Research & Development
Bring cutting-edge technology into the mainstream to construct New York's grid of the future, create new jobs, and attract new investments.
Build a cleaner, sustainable, and more efficient personal and public transportation systems to reduce the massive GHG emissions currently coming from this sector (34%).7
This last category includes thousands of dollars in state rebates and federal tax credits for new leases or purchases of electric vehicles (plug-in hybrids or battery-powered)8; as well as consumer education, smarter transportation management infrastructure, and close coordination with nearby states to implement effective regional solutions.
How Will REV Benefit Solar Power and Energy Storage Systems?
In January 2018, Governor Cuomo announced a series of new initiatives of his Reforming the Energy Vision (REV) strategy, along with a pledge to deploy 1,500 megawatts (MW) of energy storage by 2025 — the equivalent electricity demand of one-fifth of all New York homes.9
With the aid of the New York Energy Research and Development Authority (NYSERDA), REV is working to streamline solar permitting and interconnection processes, while significantly decreasing many of the costs and barriers for obtaining energy storage.10
Under current discussion are new electric rate structures to reduce peak pricing. And, by teaming up with NY Green Bank, REV is also looking to provide a wide range of financing options so a greater number of New Yorkers can enjoy the financial and environmental benefits of energy storage.11
Stay Tuned in Early 2019 for Additional Information About Solar Battery Storage Systems Incentives in New York
Although details of New York State energy storage incentives will be revealed during the first half of 2019, state and federal incentives for solar panels and battery storage in New York are already at full blast, and they could save you thousands of dollars in the upcoming years.
Besides, at Sunrun we have several solar plans to choose from, and some start for as little as $0 down. Our solar advisors have everything set to work on your complimentary quote. If time is (quite literally) money with solar, why wait any longer?