FAIR LAWN, N.J.--(BUSINESS WIRE)--CALMAC®, a leader in energy storage systems, today congratulates the Massachusetts legislature on the passing of energy bill H.4568. The bill, well-known for its promotion of renewable energy sources, requires the state to seek long-term contracts for 1,600 MW of offshore wind power and 1,200 MW of hydropower. It also includes provisions to facilitate the adoption of energy storage by empowering the Department of Energy Resources to create procurement targets and incentives for utilities, households and businesses.
H.4568 uses a broad definition of energy storage that includes distributed thermal energy storage technologies, such as CALMAC’s IceBank® system for behind the meter applications. CALMAC’s solution serves as a battery for a commercial building’s air conditioning system. Cooling is created and stored in the form of ice at night. The next day the ice is discharged and used to keep occupants comfortable during peak demand hours, when the grid is nearing full capacity. The ability to reduce energy consumption during peak hours can be particularly beneficial for commercial buildings across the state, specifically in Boston, which endures a peak demand charge of $45 per kW. As a result of Massachusetts peak demand charge electricity costs nearly 80 percent more during the day than at night.
“We applaud the Massachusetts Legislation for addressing the reduction of greenhouse gas emissions and peak electrical generation, for prioritizing energy storage systems and for encouraging cost-effective deployment of storage,” said Mark MacCracken, CEO of CALMAC. “Renewable energy sources such as wind and solar are forms of pure energy and lack the storage capabilities that make fossil fuels so convenient for our power grid to rely upon. It is unrealistic to believe that renewable energy will align itself perfectly with the demand of the power grid and consumers without adding energy storage. Massachusetts has taken great steps to create a more reliable, smarter grid to adapt to future needs.”
H.4568 isn’t Massachusetts’ first commitment to energy storage and exploring the mass market potential of the technology. Last June the state launched a $10 million Energy Storage Initiative (ESI) to study energy storage, explore the benefits of the technology state and determine what regulatory changes may be required to facilitate adoption.
For more information on energy storage, visit www.calmac.com.
At CALMAC, we’re changing the world, transforming the way buildings use energy for cooling. As the world’s leading manufacturer of ice-based energy storage systems, CALMAC’s proven technology lowers cooling costs, supports sustainable energy and enables LEED certification. IceBank systems strengthen the smart grid storing critical energy sources - including renewables like wind power - for later use. Our IceBank tanks are installed at over 4,000 locations worldwide. 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 New Buildings Institute.