S 2470 provides a tax abatement for electric energy storage equipment placed in service between January 1, 2027, and January 1, 2029. It directly affects property owners or businesses installing qualifying energy storage systems during that window by offering a 10% tax break on eligible equipment costs, capped at $62,500 annually. The abatement is limited to the lesser of 10% of installation costs, the annual property tax bill, or the $62,500 cap. This policy aims to incentivize adoption of energy storage systems by reducing upfront financial barriers during a specific two-year period. The bill passed the Senate in May 2025 and is now in the Assembly for review.
Directs the state energy planning board to conduct a study on time frames for replacing or upgrading battery energy storage systems at renewable energy facilities in preparation for clean energy storage and distribution across the state.
Requires battery energy storage system owners and operators to demonstrate compliance with workforce reliability standards as a condition of state financial assistance; extends prevailing wage requirements and whistleblower protections to operations and maintenance employees at covered battery energy storage systems; directs the public service commission to promulgate implementing regulations; and requires a periodic review of implementation.
Requires the chair of the public service commission create rules, regulations, policies, and procedures for the creation of a resilient electric vehicle charging system pilot program to provide power through an extended outage.
Establishes the natural carbon sequestration research program to develop innovative science-based solutions to facilitate sequestration of carbon in New York's natural and working lands; provides funding for such program.
Establishes the green affordable pre-electrification program to assist owners and tenants in residential properties in curing structural and building code defects which render the properties ineligible for improvements or projects relating to energy savings, green-house gas emissions reductions, climate change adaptation and resiliency project grants.
Requires the establishment of a renewable hydrogen incentive program to support the production, processing, delivery, storage, or end use of hydrogen in New York for the purpose of meeting the greenhouse gas emissions goals of the climate leadership and community protection act (CLCPA).
Enacts the "H2 energy scale up act"; authorizes the New York state energy research and development authority to administer a program to provide funds related to enabling clean hydrogen projects.
Requires the office of renewable energy siting and electric transmission to establish a mapping, installation and efficiency plan for the purpose of building new electric transmission lines.
Enacts the "home utility weatherization jobs act"; requires each gas corporation, electric corporation, or combination gas or electric corporation to submit to the public service commission for review and approval at least one and up to ten neighborhood scale weatherization and electrification-ready projects.
