ARTICLE
8 August 2016

NY Approves Goal For 50% Renewable Energy By 2030

TP
Troutman Pepper Locke LLP

Contributor

Troutman Pepper Locke helps clients solve complex legal challenges and achieve their business goals in an ever-changing global economy. With more than 1,600 attorneys in 30+ offices, the firm serves clients in all major industry sectors, with particular depth in energy, financial services, health care and life sciences, insurance and reinsurance, private equity, and real estate. Learn more at troutman.com.
On August 1, 2016, the New York Public Service Commission approved the state's plan to achieve fifty percent of its generation needs from renewables.
United States Energy and Natural Resources

On August 1, 2016, the New York Public Service Commission approved the state's plan to achieve fifty percent of its generation needs from renewables. In so doing, New York joins a handful of other states (including California Hawaii and Vermont) with ambitious clean energy goals at or above the fifty-percent mark.

Governor Cuomo's so-called "50 by 30" plan requires aggressive phase-in of renewables, including wind and solar, beginning with a target of 26.31% in 2017. Among the controversial aspects of the plan is the recognition of nuclear energy's role in the clean energy future: Angering some environmental groups, the plan calls for what will amount to billions of dollars in ratepayer subsidies for nuclear energy upgrades at existing facilities.

Other features of the state's clean energy plan include development of a standard 100% NY certified clean energy product for consumers, expansions of energy efficiency programs, investments in batteries and other energy storage technologies, and promoting off-shore wind development.

For more information read here: http://www.governor.ny.gov/news/governor-cuomo-announces-establishment-clean-energy-standard-mandates-50-percent-renewables

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

Mondaq uses cookies on this website. By using our website you agree to our use of cookies as set out in our Privacy Policy.

Learn More