New subsidies in California for energy storage

April 21, 2017 by Ronjoy Bezbarua

(Source: Breaking Energy) California’s Self-Generation Incentive Program (SGIP) has been a major success in the past years. The subsidy that was geared towards incentivizing the growth of solar energy proved fruitful. Despite the program’s flaws, reforms have been proposed to help gear the subsidies towards energy storage, which is an essential component to growing the renewables space. For instance, in the past a proposal made it so that 75% of funds would be reserved for energy storage projects. New initiatives, however, are what led some to believe the subsidy program will spark growth in storage solutions. Chiefly, the funds collected from rate payers will double to $166 million per year through 2019. Moreover, 85% of the additional funds raised will be allocated to energy storage, as opposed to the aforementioned 75%. Fifteen percent of the funds will be reserved for renewable projects. The success of the SGIP program in commercializing solar and fuel cell tech leads the commission which heads the program to believe that they can also stimulate the commercialization of storage. Read full article….

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