Solar, Sourcing Renewables - April 19, 2022
NY Governor Approves Path to Add 10 GW Solar by 2030
Governor Kathy Hochul announced that New York’s State Public Service Commission has approved a new framework for the state to achieve at least 10 GW of distributed solar by 2030.
The roadmap, submitted by the New York State Energy Research and Development Authority and the New York State Department of Public Service to the PSC, provides a comprehensive strategy to expand the state's successful NY-Sun initiative into one of the largest and most inclusive solar programs of its kind in the nation.
"The existential fight against climate change demands historic investments in renewable energy to bring us closer to a brighter, greener future," Governor Hochul said in a statement. "This roadmap to expand the NY-Sun initiative into a nation-leading blueprint for the development of distributed solar meets the moment to supercharge our economy and advance our climate goals."
The adopted framework includes an investment of $1.5 billion in ratepayer-funded incentives to extend the successful NY-Sun program and continue the marked reduction in project cost and incentives observed in the last 10 years. The public investment will spur approximately $4.4 billion in private investment to bring awarded projects to fruition, for a total of $5.9 billion in expected investment over the mid-to-late-2020s.
The program expansion will also deliver at least 35% of the benefits with a goal of 40% from the investments to disadvantaged communities and low-to-moderate-income New Yorkers.
The announcement supports the State's Climate Leadership and Community Protection Act mandate to generate 70% of the state's electricity from renewables by 2030.
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