Energy storage is the key to achieving a resilient, secure, and carbon-free energy future. New York stakeholders are already taking action to capture the numerous benefits that energy storage can provide the power grid, transportation systems, and the economy. The state’s forward-looking efforts to overcome barriers to energy storage deployment will open up a robust local market and attract new investment to the state. Nevertheless, there is still an opportunity to strengthen the ecosystem to ensure future investments benefit in-state manufacturers and support local workers.
A strong focus on energy storage not only means a clean energy future but numerous local jobs. New York’s manufacturing industry continues to shed thousands of jobs, with local communities losing out on good wages and employment opportunities that demand all skill levels. By supporting energy storage manufacturing, New York can ensure a stronger labor market that helps workers and jobseekers access living-wage jobs and bolster local economies. Furthermore, greater energy storage deployment will create more middle-wage jobs in project development, installation, operations, and maintenance.
New York can amplify the industry’s potential by harnessing its key assets:
- A rapidly growing energy storage market. The $11.8 billion global market is estimated to grow 8.4 percent each year up to 2022.
- Diverse manufacturing and industry assets. New York is home to nearly 100 energy storage companies with expertise in hardware manufacturing, advanced materials, software development, and project management.
- Cutting-edge research. The state ranks fifth in the nation for energy storage patents due to the depth of research at New York’s universities, national lab, and businesses.
- Clean energy leadership. State and local leaders recognize energy storage as a key enabling technology for reducing greenhouse gas emissions, increasing renewable energy generation, and improving building efficiency.
- The opportunity to support good-paying jobs. The American Jobs Project’s independent analysis finds that New York’s energy storage industry could support 27,400 manufacturing and installation jobs by 2030, backing the state’s 30,000 jobs target.
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