Ideal Power Inc. (Austin, TX, U.S.), a
developer of innovative power conversion technologies, supports the
recent decision by the California Public Utilities Commission (CPUC) to
modify the Self-Generation Incentive Program (SGIP) to allocate 75% of
new funding to energy storage and modify the program rules to bolster
the competitive environment for the leading behind-the-meter energy
storage market in the U.S.
USD 36 million are expected to be allocated to energy storage projects
The CPUC displayed strong leadership in resolving
the 2016 SGIP delay, enabling approximately USD 70 million of new energy
storage projects submitted in February 2016 to proceed.
Additional SGIP funds are expected to be made
available later this year under the modified program rules of which
approximately USD 36 million are expected to be allocated to energy
storage projects.
“The temporary road block to deploying energy
storage projects utilizing the California SGIP incentive funds has been
cleared,” said Dan Brdar, Ideal Power CEO.
USD 276 million of energy storage projects submitted for SGIP funding on February 23rd, 2016
“We appreciate the CPUC’s diligence on this matter
and look forward to the commencement of SGIP application processing as
there are numerous projects that we expect to use our power conversion
systems. Additionally, we believe the USD 276 million of energy storage
projects submitted for SGIP funding on February 23rd is a strong indication of growing interest for energy storage.”
1,325 MW of energy storage to be implemented in California by 2020
The CPUC established a target of 1,325 MW of energy
storage to be implemented in California by 2020. The SGIP program goals
include grid support services that utilize energy storage to reduce or
shift peak demand, improve efficiency and reliability of the
distribution and transmission system, lower grid infrastructure costs,
provide ancillary services, and ensure customer reliability in addition
to incentives for microgrids.
The proposed decision frees up approximately USD
36 million of SGIP incentive funding for storage, and allocates 75% of
the SGIP budget going forward to energy storage projects.
It also gives priority to storage systems that are
combined with renewable energy. And structures the program on a step
down basis similar to the California Solar Initiative.
source: http://www.solarserver.com
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