August 9, 2019
In New York City, one of the most important factors in running a business is electricity. Having enough electricity for your business to run smoothly is critical, whether you are in the supermarket industry or the corporate office world. In the hot, humid summers, everyone has their air conditioning on — which can trigger power outages. Energy storage can help lower electricity bills, meet basic resilience requirements, and ensure electricity is available when your business needs it the most.
During peak hours, the idea of having backup energy storage can give real peace of mind and make for a more efficient workspace. This is especially important for businesses like supermarkets where energy storage is important to keep food frozen and fresh items cold for the longest time possible. Keeping meat and juice fresh can be expensive, so learning where your energy comes from can help save you money.
Going solar can help save money on electricity costs, as well as earning money when excess energy is generated by the solar panels. Even if the energy output is higher than your usage needs, you can store it in an energy storage facility for future use, or even use it overnight to keep that food fresh. Energy storage will give you a backup plan when energy is running low and provide an opportunity to earn from your output.
Benefits of Energy Storage
The storage will shift the electrical demand needs to low-cost off-peak periods, drawing from the grid during off-peak times, and battery storage when electricity costs are at their highest.
Your business is able to maximize financial value by participating in utility load relief programs like demand response.
Provide high power quality without voltage, frequency or short-duration outages.
Save early morning solar generation for later use on-site, or to export for grid compensation when it is more valuable later in the day.
Incentives & Financing
NYSERDA offers a single up-front payment at a fixed incentive amount, based on the kilowatt hour (kWh) of usable energy storage, for projects up to 5 megawatts. To have access to incentives, you must use a participating contractor that is working with NYSERDA.
Financing for battery storage may be accessed through commercial property assessed clean energy (PACE) financing programs. PACE offers financing opportunities to fund energy efficiency and renewable energy products. This includes energy storage additions to existing commercial structures as well.
Who is Eligible?
Small businesses
Large commercial and industrial businesses
Demand metered customers installing standalone storage or adding storage to a completed solar project
Those who must pay the System Benefit Charge on their electric utility bill
How it Works
In order to receive an energy storage incentive, you must work with a contractor participating alongside NYSERDA. The participating contractor will apply for the incentive on your behalf if you are interested in:
Pairing a new solar project with energy storage
Installing standalone storage, retrofitting storage to an already built solar project, or pairing storage with other on-site generation
Having accessible energy is important for any business and being able to store this energy for emergency use can give you an edge — especially during peak business hours. Looking at the benefits, and the incentives available, energy storage is a fantastic choice to help power your business.
By Kasey Liu
If you think Energy Storage could benefit you, contact YSG today at 212.389.9215 and we can get started on a project right away.
Sources:
https://www.nyserda.ny.gov/All%20Programs/Programs/Energy%20Storage
https://www.ny-engineers.com/blog/new-york-state-energy-storage-roadmap
https://www.nyserda.ny.gov/All-Programs/Programs/Energy-Storage/Energy-Storage-in-NYS