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The value of demand charge reduction can vary significantly, which narrows the pool of customers who can profitably install a behind-the-meter battery. But this business model significantly limits the market for storage because it is only economic for a small number of customers and provides nominal benefit to the utility. Our “Commercial Battery Storage” project explores an alternative to more traditional “behind-the-meter” batteries, which are owned by customers to reduce their own peak demand and associated charges. Our second project, Storage On Demand, is a 1.5 MW/4 MWh mobile storage solution that utilizes trailers to stack value for wholesale markets and multiple transmission and distribution needs.
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The first, Commercial Battery Storage, is a 4.2 MW/4.4 MWh system that aims to reinvent the traditional behind-the-meter model by simplifying the customer value proposition to provide value across all stakeholder groups. Two projects in our portfolio look to overcome financial barriers through stacking value across the customer, utility, and wholesale markets. With these projects, the company is testing new business models and trying to establish storage as a resource to help Con Edison maintain our industry-leading reliability and defer investment in traditional utility solutions. Our company is running a portfolio of storage demonstration projects under New York State’s Reforming the Energy Vision (REV) proceeding. Lacking California’s mandates and subsidies, most energy companies struggle to overcome the financial and regulatory barriers to energy storage deployment.Īt Con Edison, we believe we can overcome those barriers and that storage will play a particularly integral role in New York City’s unique environment, where demand peaks are extreme, reliability standards are high, and city and state carbon reduction goals are aggressive. Although 77 MW of new utility-scale energy storage were announced in the United States in the first half of 2017, more than 75 percent was in California. Costs, performance uncertainty, regulatory requirements and market realities have hindered the adoption. Yet, the deployment of storage in the United States has been limited. The ability to store energy at periods of low demand and provide it to customers when demand is high makes storage a flexible, unique and valuable resource to meet a wide variety of reliability and resiliency needs.
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Some experts hail storage as the “holy grail” for the energy industry. Rapid improvements in battery technology have given storage great potential as a tool to help energy companies manage peak demand, lower investments in new infrastructure, and meet environmental goals.