In an announcement made on Monday, August 1st, New York Governor Andrew Cuomo announced approval of the Clean Energy Standard. The Clean Energy Standard mandates 50% of New York’s electricity supply to come from renewable energy sources. The governor foreshadowed this announcement last December during the COP21 climate talks, when he directed New York’s Department of Public Service to design a plan for reaching this target. The announcement came on the heels of a similar announcement made by Washington DC Mayor Murial Bowser in late July.
- The Clean Energy Standard preserves nuclear plants located in upstate New York via a subsidy. However, nuclear plants located downstate will not be eligible for the subsidy at this time.
- The policy will be enforced by requiring energy suppliers and utilities to obtain a set number of Renewable Energy Credits annually. The credits will be used to help further finance new renewable energy sources.
- Governor Cuomo’s announcement estimated that the cost of the Clean Energy Standard would amount to less than $2 per typical residential electricity bill.
- The 50% renewable target will be phased in over time, starting with a 26.31% renewable requirement for the state’s electricity load in 2017. This percentage increases to 30.54% in 2021.