The New York State Public Service Commission (“PSC”) recently issued an order that will shape New York’s energy portfolio for years to come. The Clean Energy Standard (“CES”), issued and effective August 1, 2016, is a bold initiative that mandates renewable energy supply 50 percent of the State’s electricity needs by 2030. New York seeks to achieve this goal by focusing on three major areas: (1) large utility scale solar, wind and other renewables; (2) offshore wind; and (3) subsidized nuclear power. The expectation is that by 2030, New York greenhouse gas emissions will be reduced by 40 percent from 1990 levels.
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New York Rolls Out $5 Billion Clean Energy Fund
In support of its commitment to increase the use of renewable energy resources to 50% by the year 2030, New York is creating a $5 billion Clean Energy Fund. As reported in Fortune Magazine, New York’s commitment to spend $5 billion over 10 years on infrastructure and clean energy related projects is a significant development, with the goal of leveraging an additional $29 billion in private investment. The framework for the plan, which has been in discussion for some time, was approved by the New York Public Service Commission on January 21, 2016. The fund will operate with four major components:
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High Volume Hydraulic Fracturing Banned in New York State
Following through on Governor Andrew Cuomo’s promise, the Acting New York State Department of Health (DOH) Commissioner, Dr. Howard Zucker, released the findings of his department’s long delayed health study of hydraulic fracturing in New York State. According to Dr. Zucker, hydraulic fracturing poses serious concerns to public health and data that proves otherwise does not exist. As a result, and as others have noted, Dr. Zucker concluded that he “cannot support high volume hydraulic fracturing in the great state of New York.”
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4MW: Utility Scale Solar Project
Our client, BQ Energy, is proposing a utility scale solar project adjacent to the existing Steel Winds wind farm on the former Bethlehem Steel plant in Lackawanna, New York. This 4MW project will, when completed, represent one of the only utility scale combined wind/ solar projects in the world. We are assisting BQ Energy with all environmental reviews, zoning and land use matters associated with this dynamic project.
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Governor Cuomo Appoints President for New York’s Green Bank
Gov. Andrew Cuomo has appointed Alfred Griffin to head up New York’s Green Bank. Griffin comes from Citigroup Global Markets, Inc. This key appointment is an important step in moving the Green Bank forward, which is a $1 billion initiative to leverage private investment to grow New York’s clean tech and renewable energy economy. Read
New York State Moves Forward to Capitalize Its Green Bank
Earlier this year, New York Governor Andrew Cuomo announced that the State would be creating a Green Bank to leverage private sector financing for renewable and other related clean energy projects. The Green Bank was identified in the Governor’s State of the State address as a key component to growing the State’s clean energy economy.
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Change in NYSPSC Leadership on Hold
Governor Andrew Cuomo nominated Audrey Zibelman to the New York State Public Service Commission (“PSC”) and she was recently confirmed by the New York State Senate. It has been widely reported that she would be named Chair of the PSC. The Albany Times Union is reporting that Ms. Zibelman will not be taking over in
ACORE Adopts New Strategic Plan
The American Council on Renewable Energy (“ACORE”) has adopted a new strategic plan. The objective of the plan is to identify the issues affecting the renewable energy industry over the next ten years and position ACORE to effectively work with the renewable energy industry to deliver the value and benefits of renewable energy. The plan identifies four principal areas that ACORE will focus on:
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Biomass Facilities Lose CO2 “Deferral”
The U.S. EPA greenhouse gas regulations provided biomass facilities with an important incentive – a unique “deferral” from having to achieve established CO2 emission limits. For certain biomass facilities not being regulated for CO2 emissions had significant benefits from both a capital and operational cost perspective. There likely are a number of biomass facilities which currently owe their financial viability to the deferral.
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Obama’s State of the Union Address and America’s Energy Future
President Obama’s State of the Union address touched on many issues of critical importance to Americans, including America’s energy future and its link to economic growth and prosperity.
In discussing the need to maintain investment in science and innovation, the President called for the U.S. to “reach a level of research and development not seen since the height of the Space Race,” and further stated, “no area holds more promise than our investments in American energy.”
The President focused on:
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