# NY BESS Indexed Storage Credit — Verification Ledger Companion source ledger for `NY_BESS_ISC_Decision_Tree.html`. Every dollar figure, percentage, MW threshold, and date in the artifact traces to one of the sources below, fetched and read on the dates shown. Page references use the page numbers printed in the source document. --- ## NYSERDA Bulk Energy Storage Program ### [S1] NYSERDA Bulk Energy Storage Program Manual (November 2025) - **URL:** https://www.nyserda.ny.gov/-/media/Project/Nyserda/Files/Programs/Energy-Storage/Bulk-Energy-Storage-Program-Manual.pdf - **Fetched:** 2026-05-10 - **Length:** 16 pages - **Cited for:** - p3, §1.1: "6 gigawatts (GW) installed by 2030" target; ISC modeled on REC/OREC mechanism for revenue certainty through hedging - p3, §2.1.1: "Project must utilize storage technology that is electrical, chemical, mechanical, or thermo-electric" - **p4, §2.1.1: "Project must have a minimum capacity of 5 megawatts AC power"** [load-bearing eligibility threshold] - p4, §2.1.1: "Project must be electrically interconnected into New York's transmission, sub-transmission, or distribution system" - **p4, §2.1.1: Mutual exclusivity — ineligible if receiving Market Acceleration Bridge, Retail Energy Storage Program, Tier 1 REC, OREC, VDER, Utility Bulk Dispatch Rights** - **p4, §2.1.3: "The system must be placed-in-service by December 31, 2030"** - p6, §2.3.1: Monthly payment for duration of contract delivery term; calculation per ISCRFP25-1 §3 and ISC Agreement - p15-16, §6 & §7.2: Monthly Availability Report determines ISC creation and settlement ### [S2] NYSERDA ISCRFP25-1 Proposer's Webinar (August 13, 2025) - **URL:** https://www.nyserda.ny.gov/-/media/Project/Nyserda/Files/Programs/Energy-Storage/2025-08-13-Index-Storage-Credit-Request-for-Proposals-Proposers-Webinar.pdf - **Fetched:** 2026-05-10 - **Length:** 40+ slides - **Cited for:** - Slide 6: 3 solicitations at least annually; 3 GW target by 2030 across all three rounds - Slide 9: **"1 ISC = 1 MWh of discharge capability per day"**; ISCs are market-based mechanism indexing the purchase price to wholesale market energy and capacity prices - **Slide 10: RFP Schedule** — Step One open July 28 – Sept 4 2025; Step Two Non-Price Sept 18 – Dec 11; Step Two Price Phase Dec 12 – Jan 29, 2026; Award Q1 2026; Contract Complete by end of Q2 2026 - Slide 11: Eligibility — min 5 MW AC, must NOT be behind-the-meter - **Slide 13: Ineligible — currently receiving Market Acceleration Bridge, Tier 1 REC/OREC, Utility Bulk Dispatch Rights, Residential and Retail Storage Incentive, or VDER; behind-the-meter; operational projects** - **Slide 14: Geographic Targets — 35% minimum in NYISO Zones G–K (30% in Zone J, 5% in Zones G/H/I/K). Duration: 10% cap on 2-hour resources; 20% target LDES (≥8 hour)** [load-bearing for sizing] - **Slide 15: Maximum Contract Tenor — Li-ion 15 years, non-Li-ion 25 years. In-service by Dec 31, 2030** - Slide 16: Alternate Bid Proposals — up to 3 alternates per Base Proposal; Base = largest MW - Slide 17: Component Cost Indices Adjustment (CCIA) — one-time strike price adjustment, ±12% cap, Li-ion only by default (PPI indices PCU2365002365001, PCU33123312, PCU335311335311, WPUSI012011, PCU3359133591) - **Slide 22: Bid Proposal Evaluation — 60% price, 40% non-price (20% Project Viability & Maturity, 10% + 10% other)** - **Slides 23–31: Full ISC Settlement Math:** - ISC Price = Strike Price − REAP_monthly − RCP_monthly (two-way CfD) - REAP_daily = sum over n=1..x of max([T_n − B_n/RTE], 0) / x; where T_n = top n hourly LBMP, B_n = bottom n hourly LBMP, RTE = round-trip efficiency, x = bid storage duration - REAP_monthly = avg of daily REAP across days in month - RCP_monthly = (RUP_monthly × 1000 × CAF) / (Bid Duration × Days in Month); CAF = NYISO Capacity Accreditation Factor - Monthly Payment = ISC Price × Bid Power × Bid Duration × K × Availability% - **Worked example (slide 31):** 100 MW / 4 hr / Li-ion / RTE 0.85 / Zone A / Strike $100/ISC / RCP $42.04 / REAP $16.31 / ISC Price $41.65 / Availability 0.968 → Monthly Payment **$499,933.28** (July, 31 days) - Slides 33–39: Non-Price Eligibility — Storage Tech Commercial Maturity (≥2 MW commercially deployed for <8hr); Site Control; Interconnection (in 2024 Cluster Study or accepted prior Class Year cost allocations); Permitting; Safety & Security; Stakeholder Engagement; Development & Operating Experience (proposer must have built ≥10% of bid capacity in prior project) - **Source note:** This webinar deck is the most authoritative summary of the ISC mechanic publicly available without the full RFP. Full RFP Section 3 (ISC calculation) and Section 4 (non-price evaluation) reference numbers exist but are paywalled behind solicitation portal registration. Strike price disclosures from Round 1 award (Q1 2026) are NOT yet public as of fetch date. ### [S3] NYSERDA Retail Energy Storage Incentive Program Manual (May 2024) - **URL:** https://www.nyserda.ny.gov/-/media/Project/Nyserda/Files/Programs/Energy-Storage/Retail-Program-Manual.pdf - **Fetched:** 2026-05-10 - **Length:** 25+ pages - **Cited for:** - **p2, Summary: "up to five megawatts (MW) of alternating current (AC) power"** [load-bearing — Retail track is structurally capped at 5 MW AC] - p2: Eligible for IOU or LIPA/PSEG-LI tariff including VDER - p3, §1: Customer-sited BTM or standalone connected to distribution; customer must enroll for 5 years in DR/Standby tariff/Con Ed Rider Q/LIPA TOU/VDER - **p5, §1: Ineligible if receiving NYSERDA Bulk Storage Incentive or Utility Bulk Dispatch Rights contract** [mutual exclusivity confirmed from Retail side] - p5: Also ineligible if compensated under Clean Energy Standard REC or owned by IOU/NYPA - **p12, §3: Block approach — fixed $/usable-kWh at COD. Full incentive for first 4 hours of duration; 25% incentive for hours 5–6; no incentive beyond 6 hours** - **p12, §3: NYC Block 5 max = 20 MWh/project; prior blocks max = 15 MWh/project** - **Source note:** Live block prices ($/kWh by IOU territory) live on the **NYSERDA Retail Incentive Dashboard** at https://www.nyserda.ny.gov/All-Programs/Energy-Storage-Program/Developers-and-Contractors/Residential-and-Retail-Storage-Incentives/Retail-Incentive-Dashboard. The dashboard updates as blocks subscribe — citing live values in a static document risks staleness. Current values shown as "see live dashboard" with a link. ### [S4] NYSERDA Press Release — First Bulk Energy Storage Solicitation (July 28, 2025) - **URL:** https://www.nyserda.ny.gov/About/Newsroom/2025-Announcements/2025-07-28-Gov-Hochul-Announces-First-Bulk-Energy_Storage-Solicitation-NY-Energy-Roadmap - **Fetched:** 2026-05-10 - **Cited for:** - 6 GW by 2030 storage target across residential/retail/bulk - 200 MW residential + 1,500 MW commercial/community + remainder bulk - Round 1 (ISCRFP25-1) Step One eligibility application due September 4, 2025 - 35% Disadvantaged Communities benefit allocation requirement - **Source note:** From discovery search results (already publicly known: 46 projects / ~6 GW / ~30 GWh bid in Round 1 — covered in `NY_BESS_Incentive_Analysis.html`). --- ## NYISO Capacity & Energy Markets ### [S5] NYISO ICAP Demand Curve Parameters 2025–2026 - **URL:** https://www.nyiso.com/documents/20142/50430248/Demand-Curve-Parameters-2025-2026.pdf - **Fetched:** 2026-05-10 - **Cited for ICAP Reference Point Prices ($/kW-month, summer / winter):** | Locality | Summer Ref | Winter Ref | Summer Max Clearing | Winter Max Clearing | Demand Curve Length | |---|---|---|---|---|---| | **F (Capital)** | $5.72 | $4.33 | $21.69 | $16.39 | 12% | | **G (Hudson Valley / Dutchess)** | $6.15 | $5.29 | $23.25 | $19.99 | 15% | | **J (New York City)** | **$17.37** | **$14.64** | $41.30 | $34.83 | 18% | | **K (Long Island)** | **$6.80** | **$8.78** | $28.16 | $36.37 | 18% | - Also: Gross Cost of New Entry — F: $127.71/kW-yr; G: $127.58; **J: $222.73**; **K: $137.03** - Net EAS Revenues — F: $77.15; G: $76.92; J: $82.25; K: $87.42 per kW-yr ### [S6] NYISO Capacity Market product context - **URL:** https://www.nyiso.com/installed-capacity-market (program overview) - Cited for ICAP/UCAP product structure; Capacity Accreditation Factor (CAF) framework. Specific CAF for 2-hour storage requires lookup in NYISO TARIFF — flagged in artifact as "see NYISO Capacity Accreditation reference" rather than asserting a number. ### [S7] NYISO Real-Time Dashboard + LBMP MIS - **URL:** https://www.nyiso.com/real-time-dashboard, http://mis.nyiso.com/public/ - Cited only structurally — LBMP zonal data is real-time and not snapshot-able in a static document. Artifact references the dashboard for current values and uses NYSERDA's own published sample ($33–$56/MWh range in Zone A for July, per ISCRFP25-1 webinar slide 26) as illustrative. --- ## NY DPS VDER Value Stack ### [S8] NYSERDA VDER Value Stack Overview (June 2020 fact sheet, framework still in effect) - **URL:** https://www.nyserda.ny.gov/-/media/Project/Nyserda/Files/Programs/NY-Sun/value-stack-overview.pdf - **Fetched:** 2026-05-10 - **Cited for:** - Six Value Stack components: LBMP (energy), ICAP (capacity, monthly), **E (environmental, locked 25 years)**, **DRV (demand reduction, locked 10 years)**, **LSRV (locational system relief, locked 10 years)**, **CC (community credit, locked 25 years)** - **Standalone storage is NOT eligible for E-value** — must be charged exclusively from co-located PV or wind - **CC is NOT available for standalone storage** — CDG projects only - LSRV only available at utility-designated substations - **VDER methodology applies to non-residential projects larger than 750 kW AC and all remote metered projects** - DRV available to all technologies - **Source note:** Live monthly DRV/LSRV/ICAP/E rates by utility are published at https://www.nyserda.ny.gov/All-Programs/NY-Sun/Contractors/Value-of-Distributed-Energy-Resources/Value-Stack-Calculator (Value Stack Calculator, revision 3.3, 02/04/2026) and at nyserda.ny.gov/vder (historic data and rates). Artifact references the calculator and dashboard rather than embedding a snapshot. ### [S9] NYSERDA Value Stack Resources page - **URL:** https://www.nyserda.ny.gov/All-Programs/NY-Sun/Contractors/Value-of-Distributed-Energy-Resources/Value-Stack-Resources - Cited for live rate access and current Value Stack Calculator (rev 3.3, Feb 2026 — includes grid-charged storage updates, updated retail electric rate information, buyback exemption toggle). --- ## Federal §48E ITC + OBBBA FEOC ### [S10] OBBBA §48E ITC + FEOC framework - Already documented in user memory: `project_obbba_feoc_itc.md` - 30% base federal ITC + adders up to 50%; FEOC requires foreign equipment ≤40% of project cost; phase-down 2034–2036 - Stacks independently with ISC and Retail (per [S1] page 4 mutual exclusivity does not include federal credits) --- ## Existing GFE / Internal sources ### [S11] NY_BESS_Incentive_Analysis.html (this folder) - Path: `/Users/jasonmasters/Documents/Batteries/New York Incentives/NY_BESS_Incentive_Analysis.html` - Source of truth for the 10-revenue-stream framework and prior ISC summary text. The ISC deep-dive HTML extends this deck — it does not contradict it. ### [S12] NY_BESS_MutEx_v1_matrix.html (this folder) - Path: `/Users/jasonmasters/Documents/Batteries/New York Incentives/NY_BESS_MutEx_v1_matrix.html` - 10×10 exclusivity matrix; cross-checked against the decision tree leaves. ISC ⊗ LSRV/REC/DRV/Retail = hard exclusive; ISC × LBMP/ICAP/ancillary = stack on NYISO route; ISC × ITC = stack. --- ## Gaps and pending items - **Round 1 strike price disclosures**: NYSERDA has not published winning strikes from ISCRFP25-1 (closed Jan 29, 2026; awards Q1 2026; contracts by end of Q2 2026). Once published, the artifact's "strike band" sections should be re-tagged with sourced values. Until then, illustrative strike values use the **NYSERDA-published sample of $100/ISC** from [S2] slide 26 (worked example, not a Round 1 outcome). - **2-hour Storage Capacity Accreditation Factor (CAF)**: NYISO Tariff Attachment H defines the CAF schedule. The webinar sample uses CAF=0.77 for a 4-hour Zone A system. A 2-hour CAF is materially lower but not pulled here. Artifact flags this as "lower than 4hr — verify against NYISO Capacity Accreditation reference." - **Live Retail block prices by territory**: not embedded; artifact links to dashboard. - **Live VDER LSRV/DRV rates by utility**: not embedded; artifact links to Value Stack Calculator and DPS rate dashboard. Updates to this ledger should match `NY_BESS_ISC_Decision_Tree.html` revisions one-for-one.