October 21, 2020
The market for solar-plus-storage has been rapidly expanding thanks to increased demand from consumers and growing advocacy for renewable energy throughout all levels of government. With states across the country setting ambitious climate targets, the implementation of energy storage systems alongside solar PV will be necessary to achieve these goals. Below, we will outline a number of important solar-plus-storage policies in six leading battery storage states:
California
Colorado
Maryland
Massachusetts
New York
Rhode Island
California Solar + Storage
The California Self-Generation Incentive Program (SGIP) offers incentives for existing, new, and emerging distributed energy resources (DERs). As of late 2019, the SGIP offers rebates for qualifying distributed energy systems installed on the customer's side of the utility meter—this includes provisions for advanced energy storage systems.
Colorado Solar + Storage
Colorado was an early proponent of energy storage, and is now looking at opportunities to expand energy storage throughout the state. Colorado energy storage proposals include the expansion of RESA (Renewable Energy Standard Adjustment) funds to include provisions for DG PV + storage projects.
Maryland Solar + Storage
The Maryland Energy Administration is continuing to offer its renewable energy storage tax credit throughout 2020, setting aside $450,000 in tax credits for DG PV + storage. For energy storage systems installed between January 1, 2020 and December 31, 2020, tax credits will be offered on a first-come, first-served basis.
Massachusetts Solar + Storage
In Massachusetts, developers are offered a higher compensation per kilowatt hour (kWh) if the project includes energy storage. This is an excellent incentive for the deployment of renewable energies like solar in tandem with energy storage systems.
New York Solar + Storage
Given the ambitious climate targets outlined in the Climate Leadership and Community Protection Act (CLCPA), it’s clear that energy storage is a priority for New York. In fact, NY is targeting 3,000 MW of energy storage by 2030. Now that the Value of Distributed Energy Resources (VDER) program is in place, New York looks set to cement its position as one of the nationwide leaders of energy storage policy and deployment.
Rhode Island Solar + Storage
Rhode Island has just launched its new $1.5 million energy storage incentive program. The pilot program will offer incentives for energy storage paired with renewable energy systems through Rhode Island Commerce’s Renewable Energy Fund. The incentives will be made available in four rounds between October 2020 and May 2021.
Are you interested in energy storage for your home or business? Get in touch with YSG Solar today. YSG is vastly experienced with the integration of battery storage alongside solar panels. Send us an email or call at 212.389.9215 to get started.
YSG Solar is a project development vehicle responsible for commoditizing energy infrastructure projects. We work with long-term owners and operators to provide clean energy assets with stable, predictable cash flows. YSG's market focus is distributed generation and utility-scale projects located within North America.
Sources:
All information in this article is courtesy of ‘SOLAR + STORAGE: The Evolution of Storage with Distributed Generation Solar PV’, an eBook from Standard Solar.