Renewable Energy Retention Act

Environmental Advocates Support this Bill

Explanation: 

The Governor has advanced aggressive targets for ramping up the use of clean, renewable energy, and reducing climate pollution that harms our public health and economy. These goals, among the most ambitious in the nation, mean that New York’s economy will be powered by 100-percent renewable energy in less than 32 years.

A key component of the Governor’s plan is the Clean Energy Standard, an initiative adopted by the Public Service Commission that mandates 50-percent of the electricity consumed in New York State to come from clean, renewable resources by the year 2030. New York is already roughly halfway toward achieving the 2030 goal, thanks to the renewable resources developed prior to the establishment of the Clean Energy Standard.

The states adjacent to New York also have aggressive clean energy targets and incentive programs designed to attract renewable energy resources. Should New York’s existing resources deliver their clean energy attributes or “value” into other regions rather than continue to provide them to New York, the state’s mix of clean energy will be reduced. A downward adjustment in New York’s renewable energy baseline would make an already challenging mandate, significantly more difficult to achieve. An incentive program that properly values the climate, health, environmental, and economic benefits existing renewable energy facilities contribute to the state, would help ensure that New York maintains the renewable energy resources it needs to meet the 2030 mandate.

Summary: 

This bill directs the Public Service Commission to establish a renewable energy credit program and targets for existing large-scale renewable energy resources. 

Memo #: 

52