The city that never sleeps is in the midst of an energy revolution.
New York City is charging ahead to store clean energy in neighborhoods across the five boroughs.
NineDot Energy, a startup whose goal is to tuck batteries into the nooks and crannies of New York City's grids, recently scored an additional $225 million in funding to keep growing. This boost brings NineDot's capital base to at least $400 million from investors like Manulife, Carlyle, and Starbucks.
By 2030, New York State wants to install 10 GW of community solar — but good luck finding space for fields of panels in the big city. That's where NineDot comes in. Their community storage sites let crowded areas bank surplus clean energy for cloudy days.
Storing renewable energy is a smart business that pays off today and tomorrow. Switching to solar doesn't just fight atmospheric pollution over the long haul, but it also saves New Yorkers real cash on utility bills now.
Cleaner energy also takes care of communities when they need it most. It makes homes warmer in winter storms, keeps hospitals running after blackouts, and connects families during disasters.
The NineDot team lives by community-centric values. They partner with schools to educate kids in STEM and train residents to fill the good-paying green jobs they're creating — their goal is to build two dozen more community batteries across the five boroughs.
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But is finding space for energy banks in New York City a fool's dream? NineDot's CTO, Adam Cohen, doesn't think so.
"In the last five or so years we've been working in New York City to find ways to connect the dots," he told Renewable Energy World. "And I think we're pretty good at it.
"We think of ourselves as not just problem solvers but also creatives. We're really good at putting puzzles together."
Connecting all kinds of dots will help New York achieve its energy goals. The state wants to install enough community solar to power millions of households. Cohen compares NineDot's energy-banking process to creating a "piggy bank of value" for New York State — one that's crucial to hitting those bold targets while keeping city life running smoothly.
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"For us, we see incentives," said Cohen. "And incentives work."
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