Dive Brief:
- The 2015 New York State Energy Plan, released last week, provides a non-binding roadmap to realizing Governor Andrew Cuomo’s Reforming the Energy Vision (REV) and moving the state to renewables and distributed energy resources (DERs).
- The Plan would cut New York greenhouse gas emissions 40% from 1990 levels by 2030 and 80% by 2050 and mandate obtaining 50% of electricity from renewable sources and cutting building energy consumption 23% below the 2012 level by 2030.
- The New York State Energy Research and Development Authority (NYSERDA) simultaneously announced a Clean Energy Fund (CEF) ask of $5 billion over 10 years to support renewables programs in addition to a 10-year, $1.5 billion NYSERDA proposal to support utility-scale solar and wind projects.
Dive Insight:
The plan’s three pillars are the New York Public Service Commission (PSC) REV process, the NYSERDA CEF, and the New York Power Authority (NYPA) strategies for new utility business models.
The NY PSC REV docket would overhaul the state’s utility regulations to grow and enhance the value of customer energy choice by streamlining the expansion and integration of DERs and move them from alternative to core generation in investor-owned utility business models.
The NYSERDA CEF, which includes the NY Green Bank and the NY-Sun solar initiative, complements the REV proceeding by reinforcing the state‘s commitments to growing renewables and DERs, making them more economically competitive, and protecting the environment. It would invest in energy efficiency, DERs, and energy innovations.
The NYPA programs provide a foundation for a more sustainable and resilient grid and new job creation. The NYPA will also target demand reductions.
While reforms may increase base power costs, the roadmap argues regulatory reforms will drive new competitive energy options and the CEF and NYPA programs will drive efficiency opportunities and lower the cost of renewables.
