NY-Sun Initiative Expands to 10 GW of Solar by 2030
Apr 15, 2022
by EmPower Solar
The Public Service Commission (PSC) has announced that it will expand the installation goal of the NY-Sun initiative from 6 to 10 gigawatts by 2030 in order to achieve the state’s goal of generating 70 percent of its energy from renewable resources. The new goal will also include new criteria aimed at providing at least 40 percent of the 4 GW to those who lack access to solar power, including low- to moderate-income communities.
This 4 GW increase could lead to a decrease in 54 million metric tons of greenhouse gasses over the lifetime of these projects. Additionally, the projects will provide electric bill savings to over 127,000 customers and help create 6,000 new jobs. On projects creating above 1 megawatt (MW) of energy, workers will be required to receive prevailing wages.
EmPower Solar’s CEO, David G. Schieren is board president of New York State Energy Industries Association (NYSEIA). “This new roadmap will do tremendous good in our community in terms of providing underserved communities with access to solar energy, as well as bringing us closer to meeting the state’s aggressive clean energy goals. New York has been given an opportunity to lead this country in green energy, and it’s a really exciting time,” Schieren says.
With this new roadmap, New York will be able to generate enough clean energy to provide power to an additional 700,000 homes. As an added bonus, this project will not be dependent on the taxpayers dime. Residents can expect to see an increase of less than 1 percent, or about $0.71 monthly, in their taxes.
The benefits extend to commercial building owners as well. By adopting solar either to lower their own electric bills or to host a community solar project, those who own buildings within the Con Edison territory can access new incentive rates.
Distributed through a 300 MW incentive block, these incentives are divided between large projects (1 MW and larger), medium-sized projects (200 kW – 1 MW) and small projects (less than 200 kW). The base incentive rates are $0.50/watt for large projects, $1.00/watt for medium projects, and $1.20/watt for small projects.
Through the roadmap, the PSC has included a Community Adder to drive the development of community solar programs. Also benefiting commercial- and industrial-scale (C&I) hosts, the initial rates will be $0.20/watt in ConEd territory.
The NY-Sun project is funded by the Clean Energy Fund (CEF), which Long Islanders do not pay into, making Long Island projects ineligible for any incentives associated with the project.
“This is a great step forward,” Schieren says, “Solar energy is the future, and the future is now.”