Energy Storage Incentives from ConEdison Announced

As part of the contingency plan for the potential closure of the Indian Point nuclear reactor, ConEdison filed a proposal to provide 100MW of load reduction measures including demand response, energy efficiency and energy storage. ConEdison and NYSERDA made some of the details public for the program. It should be noted that the incentives released are not final and are subject to change, but as they stand, the new incentive offerings for systems that provide summer on-peak demand reduction are $2,600/kW for thermal storage and $2,100/kW for battery storage systems. Additional bonus incentives are available for large (>500kW) projects. Incentives will be capped at 50% of the project cost (plus a bonus for large projects).