Enough Clean Solar Energy to Power Nearly 700,000 Additional New York Homes Annually
Expected to Spur Approximately $4.4 Billion in Private Investments, Creating 6,000 Additional Solar Jobs — With Prevailing Wage Requirement for Projects Above One MW
40 Percent of Benefits to Disadvantaged Communities, Low- to Moderate-Income New Yorkers
Supports State’s Climate Leadership and Community Protection Act Goal to Generate 70 Percent of State’s Electricity from Renewables by 2030
Governor Kathy Hochul, in advance of Earth Week, yesterday announced that the State Public Service Commission has approved a new framework for the State to achieve at least 10 gigawatts of distributed solar by 2030, enough to annually power nearly 700,000 average-sized homes. 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. Earth Week, which this year runs from April 18-22, is celebrated with events worldwide in support of the environment and to raise awareness for environmental protection and the care of our planet.
“The existential fight against climate change demands historic investments in renewable energy to bring us closer to a brighter, greener future,” Governor Hochul said. “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. 6,000 additional solar jobs will be created across the state, including with the State’s first application of prevailing wage requirements for solar projects between one and five megawatts.
The program expansion will also deliver at least 35 percent of the benefits, with a goal of 40 percent, from the investments to disadvantaged communities and low-to moderate- income New Yorkers. Yesterday’s announcement supports the State’s Climate Leadership and Community Protection Act (Climate Act) mandate to generate 70 percent of the state’s electricity from renewables by 2030 as part of a resilient and equitable transition to a clean energy economy.
The roadmap approved by the Commission and developed by DPS and NYSERDA carefully evaluated multiple strategies to deploy ten gigawatts or more of distributed solar by 2030 and determined that extending the State’s successful NY-Sun initiative provides the most efficient and cost-effective path forward.
Achieving the state’s expanded solar goal is expected to generate enough clean electricity per year to power nearly 700,000 additional New York homes, including those in disadvantaged communities. Importantly, the now-approved roadmap provides:
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