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N.Y. solicits offshore wind, advances storage

David Cherney, an energy market expert at PA Consulting Group, is quoted in S&P Global Platts’ “Megawatt Daily” newsletter discussing energy storage costs.

The article notes that New York targets 1,500 MW of energy storage by 2025, and New York Governor Andrew Cuomo is launching an initiative to deploy 1,500 MW of energy storage by 2025 to meet that need.

David says: “The cost of battery storage can vary dramatically depending on factors such as technology type, power-to-energy ratio, and size of the asset."

He adds: "However, we would estimate that the installed capital costs of deploying 1,500 MWs of lithium ion batteries (with a four-hour discharge time) to be between $1.5 and $2 billion."

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