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TRUELight's Clean Energy Market Series: New York

State GoalS

New York is set to become a even greener state as it ramps up its adoption rates for renewable energy. Governor Andrew M. Cuomo introduced a Green New Deal (GND) signing into law the Climate Leadership and Community Protection Act (CLCPA) in 2019. The plan establishes a carbon neutral economy by 2050, increasing the State’s renewable electricity goal from 50% to 70% by 2030. The states most aggressive plan will also seek 85% reduction in GHG emissions - power generation, industry, buildings, transportation, forestry, and waste by 2050. New York will reduce greenhouses gases by decarbonizing the electric grid with 100% carbon free electricity by 2040. Renewables and other technologies such as solar photovoltaics, wind (all), biomass, fuel cells using non-renewable fuels, tidal, hydroelectric (small), anaerobic digestion, fuel cells using renewable fuels will play a major factor with 70% allocated to generation to reduce energy price volatility. Offshore wind projects will produce 9,000 MW by 2035, which will support 100% decarbonization goals by 2040.  Energy storage will also reduce the need for fossil fuels by utilizing renewable generation of solar and wind target of 3,000 MW. 

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