New York State Public Service Commission has approved the New York’s Clean Energy Standard which requires 50% of New York’s electricity to come from renewable energy sources by 2030.
Clean Energy Standard mandates utilities and energy suppliers to procure and phase in new renewable power resources starting with 26.31% of the New York’s total electricity load in 2017 and grow to 30.54% of the statewide total in 2021.
It will be enforced by requiring utilities and other energy suppliers to obtain a targeted number of Renewable Energy Credits each year which will be paid to renewable developers to help finance new renewable energy sources that will be added to the electric grid.
Andrew Cuomo , Governor of New York, said: “New York has taken bold action to become a national leader in the clean energy economy and is taking concrete, cost-effective steps today to safeguard this state’s environment for decades to come. This Clean Energy Standard shows you can generate the power necessary for supporting the modern economy while combatting climate change.”
The Clean Energy Standard is expected to reduce air pollution, and ensure a diverse and reliable energy supply for the New York state.