Bolstering manufacturing and growing a robust energy storage ecosystem is crucial for New Yorkers to capture the economic benefits of the state’s energy storage deployment goals, reveals a report out today from the American Jobs Project in partnership with the New York Battery and Energy Storage Technology Consortium (NY-BEST).
The New York Jobs Project: A Guide to Creating Jobs in Energy Storage, which comes out in advance of the Public Service Commission’s order on the New York State Energy Storage Roadmap, offers policy recommendations to elevate local manufacturers and create good-paying jobs as the state boosts deployment.
“As New York works to scale energy storage, the choices we make now will shape how we grow this sector,” said William Acker, Executive Director of NY-BEST. “The New York Jobs Project aims to help stakeholders consider how we can cultivate an energy storage ecosystem that ensures the jobs associated with the state’s deployment targets benefit New Yorkers. That means leveraging the state’s cutting-edge research, supporting local manufacturers, and preparing a skilled workforce.”
Energy storage is the key to achieving a resilient, secure, and carbon-free energy future. Currently a $11.8 billion global market, it is estimated to grow 8.4% each year through 2022. Together with New York’s progressive energy storage deployment policies, today’s report finds New York is well positioned to grow its global leadership in innovation and establish itself as a manufacturing force for the energy storage industry. With the right partnerships and policies, the report reveals energy storage could strengthen the state’s labor market and create manufacturing jobs, a sector that has continued to shrink since the Great Recession.
“Amplifying the role of local manufacturing in New York’s energy storage industry could provide stable employment for thousands of middle-class workers while creating follow-on benefits for the broader labor market,” said Kate Ringness, Managing Director of the American Jobs Project and co-author of the report. “New York’s leaders are creating strong policies to ensure there will be local demand for energy storage. We want to support these efforts by ensuring a healthy ecosystem that supports local job creation in manufacturing, as well as deployment.”
“This report further supports the significant outcomes that can be achieved by Governor Cuomo’s commitment to investing in technologies that advance the energy storage sector and spur job growth through the state’s clean energy economy,” said Alicia Barton, President and CEO of the New York State Energy Research and Development Authority (NYSERDA). “By tapping into the state’s world-class universities and labs, and as the financing capital of the world, we have an opportunity to develop a global energy storage industry in our back yard and build an electric grid of the future that is resilient, clean and affordable.”
Based on stakeholder interviews and extensive research, The New York Jobs Project finds:
- The energy storage industry could support more than 27,400 manufacturing and installation jobs for New Yorkers by 2030, backing the state’s 30,000 jobs target.
- The Empire State is home to nearly 100 energy storage companies with expertise in hardware manufacturing, advanced materials, software development, and project management.
- New York excels at fundamental energy storage research and ranks fifth in the nation for energy storage patents due to the depth of research across its universities, national lab, and businesses.
- Clean energy innovation is supported by statewide business/technology development resources from NYSERDA, Empire State Development, and NY-BEST.
- New York’s clean energy leadership, marked by ambitious statewide goals and collaborative stakeholder efforts, present a clear mandate to catalyze energy storage deployment.
The report provides tailored strategies that take advantage of this economic opportunity and build up critical assets for industry growth in New York, including the innovation ecosystem, access to capital, workforce development, and value chain. Recommendations include:
- Establishing an innovation voucher program to enable small business access to New York’s state-of-the-art energy storage product development and testing facilities;
- Hosting industry-specific investor education events to help investors better evaluate the value proposition of energy storage businesses;
- Expanding integrated basic education and skills training at community colleges to prepare workers for jobs in the growing energy storage industry;
- Developing an energy storage job board to build career awareness and serve as a resource for local businesses, jobseekers, training providers, employment agencies, and policymakers; and
- Mapping the local energy storage supply chain and coordinating foreign direct investment outreach to fill critical gaps and attract new jobs and capital to the state.