We are working with Con Edison to demonstrate a front-of-the-meter (FTM) battery storage business model we created for the Reforming the Energy Vision (REV) strategy. The 5-year demonstration project shows how customer-sited, FTM, third-party owned batteries are able to provide benefits to both the utility (through installation in constrained network areas) and customers (through regular lease payments – energy bills are unchanged).
We are installing four 1 MW/1 MWh batteries at host sites in three NYC boroughs. Each site receives regular lease payments for use of their land. Con Edison will be able to call for the system’s discharge during their network’s critical peak times, avoiding the significant capex of a conventional infrastructure build-out. When Con Edison does not call for the systems, the batteries will participate in available NYISO wholesale markets, sharing proceeds with Con Edison.