FAIR LAWN, N.J.--(BUSINESS WIRE)--CALMAC, a leader in energy storage systems, today congratulates 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 demonstrated 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-coincident electric load reductions by June 2016; 100 MW through energy efficiency and demand reduction, and 25 MW through combined heat and power 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). The program is in line with Governor Andrew M. Cuomo’s vision to create a more sustainable and affordable energy systems that supports economic growth.
“CALMAC is pleased that NYSERDA and Con Edison recognize the proven benefit of thermal energy storage on the energy grid during peak demand hours,” says 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.”
Numerous projects in New York City have already installed CALMAC’s thermal energy storage solution, including 12 projects with NYSERDA over the past 13 years, totaling about 12MW. With this new plan in place, shifting 1MW would amount to an incentive check of $2.6 million. That money, paid to building owners, serves as a significant financial incentive to quickly reduce peak demand and create faster payback on the cost of energy efficiency projects that store and shift energy loads.
CALMAC Manufacturing Corporation is transforming how energy is used at buildings to the time energy is used. Widely recognized for promoting peak energy conservation and energy cost savings CALMAC is a member of the U.S. Green Building Council (USGBC) and the California Energy Storage Alliance (CESA). CALMAC is the manufacturer of IceBank® Energy Storage equipment, with over 4,000 Ice Storage installations worldwide. IceBank systems are a valuable component of the smart grid, enabling energy, including renewable wind energy that mainly blows at night, to be efficiently stored for use during periods of high demand.