New York proposes 10 year, $1.5 Billion
Large-Scale Renewable Energy Program
ALBANY, NY. – The New York Research and Development Authority (NYSERDA) filed a proposal with the Public Service Commission (PSC) Monday to extend and enhance the states cornerstone renewable energy program supporting large scale clean energy as part of PSC’s Large Scale Renewable Energy Track of the Reforming the Energy Vision (REV) proceeding.
Since its inception in 2004, New York State’s Renewable Portfolio Standard (“RPS”) has been a driver of clean energy investment and highly cost effective for New York ratepayers.
New York’s large scale renewable energy projects will contribute a total of $2.7 billion in direct economic investments statewide, have added approximately 670 jobs annually to New York’s workforce, and will reduce harmful carbon dioxide emissions by 50 million tons over the life of the projects.
Large scale renewable energy projects like wind power, promote fuel diversity, protect electricity customers from volatile gas prices, reduce the need for power plants that drive climate and air pollution, and improve energy security and independence.
The following joint statement was released by Sierra Club, Alliance for Clean Energy New York, Environmental Advocates of New York, Natural Resources Defense Council, and Pace Energy and Climate Center:
“New York’s current Renewable Energy Standard expires at the end of 2015. We applaud NYSERDA's proposal to extend and enhance the State's support for large scale renewable energy with a 10 year, $1.5 billion commitment that is designed to ensure the certainty, longevity, and scale necessary to attract continued private sector investment in these valuable renewable resources."
With this bold proposal, coupled with a strong renewables target such as 50% by 2025, Governor Cuomo can cement New York’s status as a national leader on clean energy and climate policy.
Along with the smart execution and implementation of the forthcoming Clean Energy Fund proposal and Final New York State Energy Plan, New York can stay on track to meeting the Governor’s commitment to reducing climate pollution 80 percent by 2050. This Large Scale Renewables proposal is a huge step forward toward that goal, while also driving the broader pollution reduction and job creation benefits such policies have proven to deliver.
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NYSERDA Proposes New Strategies to Continue Support of Large Scale Renewables
Strategies Include a Long-Term Public Commitment to Attract Investment to New York and Spur Development of Clean, Stable Power