Zinc8 Energy Solutions (OTC: ZAIRF) has been approved for a grant from the Empire State Development of up to US$9 million in performance-based Excelsior Jobs Program tax credits.
The tax credits are being offered as an incentive for the company to locate and establish its first US-based production facility in New York State. The tax credits are available immediately for a period of up to 5 years, depending on the level of investment and jobs created.
New York State Governor Kathy Hochul announced this week a new framework for the State to achieve a nation-leading six gigawatts of energy storage by 2030, which represents at least 20 percent of the peak electricity load of New York State.
The roadmap, submitted by the New York State Energy Research and Development Authority and the New York State Department of Public Service to the Public Service Commission for consideration, proposes a comprehensive set of recommendations to expand New York’s energy storage programs to cost-effectively unlock the rapid growth of renewable energy across the state and bolster grid reliability and customer resilience.