The battery storage system was installed in a commercial office compound and is composed of four batteries. The project reduces electricity costs from ICAP and Demand Charges and to provide services in the form of participating in NYISO and ConEd demand response programs. This project employs a shared-savings approach — GHP (owner) and Peak Power split the utility bill savings and market revenues from the operation of the battery. GHP takes on little to no risk while receiving energy cost savings, and Peak Power retains a portion of the revenue in exchange for installing, maintaining, and operating the system.
The energy storage system reduces utility costs and provides peak demand relief for the utility. Con Edison, the electric utility for this site, provides funding for this system to reduce peak demand during certain windows of time through the Demand Management Program. By participating in the program, the project received an incentive from Con Edison, which reduced the total project cost. Additionally, GHP gains a revenue stream in addition to the savings achieved with better building demand charge management.The results below reflect lifetime customer savings and emissions avoided as of 2021.
Total 1334 kW / 5336 kWh