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Battery storage costs rise more than 20% in New York as state forges ahead with 6 GW goal

Utility Dive · last updated

The competitive market responded to the state’s new target by adding more than 12 GW of energy storage to the interconnection queue.

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Related Knowledge Center: ENERGY BASICS: electricity

State of Play

Electricity is a secondary energy source: it is generated through the conversion of primary energy sources such as natural gas, coal, solar, hydropower, and wind. Electricity’s versatility is not cost-free: a substantial amount of energy is lost in its generation and the cost of storage is high, compared with fuels such as coal, oil and natural gas. The economics of battery technology hold the key to expanded use of renewable sources to generate electricity.

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