The New York State administration will make USD12.5 million available in funding to long-duration energy storage technologies and pilot projects exploring the potential for green hydrogen production.
The funding initiative was recently announced by Governor Andrew M. Cuomo to support New York’s decarbonisation and its pledge to cut its carbon footprint by 85 per cent by 2050. The State has set a mandate to secure 70 per cent of its overall electricity from renewable energy by 2030 and have 100 per cent zero-emission power by 2040.
Long-duration energy storage projects with six-plus hours of storage capacity will be able to take advantage of the announced funding. Proposals will be accepted for hydrogen, electric, chemical, mechanical, or thermal-electric storage technologies that have still not been commercialised, including early studies, product development, multi-stage and demonstration projects. The financing will be awarded through a three-stage competition through June 2022.
