May 20, 2014: CALMAC Applauds NYSERDA, Con Edison on New Energy Storage Incentives
Program Looks to Reduce Peak Demand, Create a More Stable Power Grid
FAIR LAWN, N.J. — CALMAC, a supplier of ice energy storage systems, congratulated the New York State Energy Research and Development Authority (NYSERDA) and Con Edison for partnering on a new demand management program. The new initiative encourages New Yorkers to install thermal energy storage and other energy load shifting technologies to regulate the demand on New York’s power grid.
Under the new plan, energy storage is offered as a viable method to reduce peak demand and utilize excess off-peak generating capacity. The incentives — implemented jointly by NYSERDA and Con Edison — are set to achieve 125 MW of permanent, peak electric load reductions by June 2016; 100 MW through energy efficiency and demand reduction, and 25 MW through combined heat and power (CHP) for consumers in New York City and Westchester County. These targets will be met through the installation of ice-based thermal energy storage, batteries, building management systems, demand response enablement upgrades, and efficiency upgrades which achieve permanent demand reduction.
With the new plan, New York City buildings which implement thermal storage to permanently load shift energy usage away from peak demand hours will receive up to $2,600/kW (limited up to 50 percent of total project cost).
“CALMAC is pleased that NYSERDA and Con Edison recognize the proven benefit of thermal energy storage on the energy grid during peak demand hours,” said Mark MacCracken, CEO of CALMAC. “The program correctly focuses on the real electrical energy problem we have in this country, which is how and when we use our power. With our national utility load factor now under 50 percent, we have twice as much generating capacity as we need if we use electricity at a level rate day and night. This new demand management program is embracing this concept in order to replace the need for additional generation.”
CALMAC said a number of projects in New York City have already installed its thermal energy storage system, including 12 projects with NYSERDA over the past 13 years, totaling about 12 MW. With this new plan in place, shifting 1 MW would amount to an incentive check of $2.6 million. That money, paid to building owners, serves as a significant financial incentive to reduce peak demand and create faster payback on the cost of energy efficiency projects that store and shift energy loads.
For more information about CALMAC, visit www.calmac.com.
Publication date: 5/19/2014