Discover the fourteen capital solutions that can unlock the energy storage market in New York State.
The good news. We have an abundance of innovative, ready-to-scale energy storage solutions poised to reshape the storage landscape and catalyze market-wide impact in New York and beyond. Solutions that are more nimble and faster to deploy than their larger, traditional counterparts, and that have the versatility to meet the broad spectrum of New York’s grid needs. Small projects are already being deployed to enhance building resilience, replace peaker power plants, enable EV charging, and provide off-grid power in remote areas.
These projects demonstrate ample opportunity for scalability. They stand to open new markets and deliver promising returns for early investors. The problem? These innovative energy storage projects, the solutions we need most, are getting stuck in development due to a lack of fit-for-purpose capital solutions necessary for scale.
We created the Energy Storage Capital Challenge to tackle this problem head-on by bringing in the creativity and expertise of capital markets to focus on the financing challenges faced by energy storage projects. We convened 14 leading capital providers from across the stack (with $1.4T AUM), along with utilities, and industry experts NY-BEST, to workshop in real-time six deployment-stage energy storage projects with financing gaps emblematic of industry challenges. The projects incorporate novel use cases, technologies, and business models with the potential to chart a new frontier for storage deployment in New York. From mobile storage (Power Edison and NineDot Energy) to stationary storage systems that open up new sites for development (Orenda Power and Convergent Energy), to novel storage for transit (Sprocket Power and Beacon Power).
The result? Fourteen co-created solutions to incentivize the capital markets to act, and alleviate investment and project risk. Our findings are a testament to the power of deep, facilitated collaboration as an accelerant for market change.
Our latest report, “Aligning Capital for Innovative Energy Storage Projects in New York State” takes a deep dive into these actionable solutions. We now need capital providers to step up and embrace these creative approaches to unlock the pipeline of innovative energy storage projects for New York State.
Download the report to:
Understand the unique opportunity for energy storage in New York State
Access the fourteen actionable capital solutions we’ve uncovered to unlock innovative energy storage deployments - for traditional and non-traditional providers across the capital stack
Explore three case studies showcasing these novel financing solutions in action
Want to get involved? We’ve just opened applications for the sixth edition of our award-winning accelerator program, focused on the deployment of growth-stage energy storage solutions in New York State. In collaboration with New Energy New York, NY-BEST, and with the support of NYSERDA.