Posted on June 20, 2019
Both houses of New York’s Legislature have passed the New York State Climate Leadership and Community Protection Act and it will now be sent to Governor Cuomo’s desk for his signature.
This sweeping legislation directs the Public Service Commission to require New York’s electricity suppliers to procure 70% renewable energy generation sources by 2030 and 100% by 2040. Among other important provisions of the legislation, DEC is required to set a social cost of carbon within 1 year. The fact that New York will have – for the first time – mandates for renewable energy in law is significant and historic. The legislation sets economy-wide greenhouse gas emissions limits at 85% of 1990 levels by 2050 and 40% by 2030, and has strong and extensive provisions to protect and re-invest in disadvantaged communities. Young/Sommer will be reviewing the legislation in detail and providing a more comprehensive summary and critical implications at a later time.
Young/Sommer is supporting a number of large scale wind and solar projects, as well as smaller scale and community solar, storage and hydro projects primed to meet New York’s new renewable energy mandates and looks forward to working with its development partners to achieve these targets.