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Outlines Comprehensive State Actions to Lay the Foundation forIndustry Growth
Supports Progress Toward New York’s Climate Act Goals Including Obtaining 70 Percent of Electricity from Renewables by 2030
On October 12, Governor Hochul announced the release of a new 10-Point Action Plan to expand and support the growing large-scale renewable energy industry in New York, reaffirming the State’s commitment to achieving the Climate Act goals. The plan outlines a comprehensive set of actions being taken to lay the foundation for a sustainable future for all New Yorkers through the expansion of the State’s growing clean energy economy and renewable energy sector.
“Strong, continued support for expanding the renewable energy sector is critical to realizing the full potential of our green economy and protecting New Yorkers from the climate crisis,” Governor Hochul said. “This 10-point action plan underscores our commitment to addressing challenges that this sector is experiencing all across the country and hardens our resolve to ramp up our efforts in providing affordable and clean energy to all New Yorkers.”
The 10-point Action Plan details a series of benchmarks and activities slated for the coming months, offering insight into how the Governor’s Administration plans to overcome recent macroeconomic and inflationary challenges that have impacted the renewable energy sector.
Action 1: In the near future, NYSERDA will announce a historic suite of awards comprised of offshore and onshore renewable energy projects, along with major supply chain investments. These awards will mark one of the largest-ever renewable energy procurements by any state to date and will demonstrate New York State’s commitment to supporting renewable energy projects and promoting large-scale renewables.
Action 2: NYSERDA will address the directives issued in the October 2023 Public Service Commission (PSC) Order and will assess the impacts on its large-scale renewables contracted portfolio in an expedited manner.
Action 3: NYSERDA will launch an accelerated renewable energy procurement process for both offshore and onshore renewable energy projects, aiming to backfill any contracted projects which are terminated. The process will be guided by core principles, including prioritizing competition, simplifying bid requirements, incorporating inflation indexing, applying critical labor protections and collaborating with industry to optimize the accelerated procurement timing, all while coordinating with ongoing transmission planning initiatives.
Action 4: New York will continue to actively engage with the Federal government to bring forward market solutions, from establishing a Memorandum of Understanding (MOU) with the U.S. Department of Energy (DOE) Loan Programs Office to access low-cost financing for large-scale renewable projects, to advocating for updated guidance on clean energy tax credits and a Federal-State revenue-sharing program.
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