What is a storage policy?

All of the states with a storage policy in place have a renewable portfolio standard or a nonbinding renewable energy goal. Regulatory changes can broaden competitive access to storage such as by updating resource planning requirements or permitting storage through rate proceedings.

What are the different types of energy storage policies?

Approximately 17 states have adopted some form of energy storage policies, which broadly fall into the following categories: procurement targets, regulatory adaption, demonstration programs, financial incentives, and consumer protections. Below we give an overview of each of these energy storage policy categories.

Are policy changes threatening the storage industry?

“However, the industry stands at a crossroads, with potential policy changes threatening to disrupt this momentum.” In the near term, the report expects 15 GW/49 GWh of new storage capacity to be installed across all segments in 2025, with utility-scale installations projected to grow 22% year-over-year.

Will changes to federal policy slash future storage growth?

The five-year forecast for utility-scale storage remains solid, but looming changes to federal policy could slash future growth. If proposed changes to the Investment Tax Credit (ITC) in the House’s reconciliation bill become law, the total storage buildout over five years could fall 27% below the current base case.

Why are energy storage resources important?

Energy storage resources have become an increasingly important component of the energy mix as traditional fossil fuel baseload energy resources transition to renewable energy sources. Currently 23 states, plus the District of Columbia and Puerto Rico, have 100% clean energy goals in place.

Does New York have a bulk energy storage program?

The New York State Energy Research and Development Authority filed with the New York Public Service Commission a proposed bulk energy storage program implementation plan designed to support the state’s build-out of storage deployments to meet the stated goal and to reduce projected costs by nearly $2 billion.