Enacts the New York Renewable Portfolio Standard Act of 2016

Title of bill

An act to amend the public service law, in relation to enacting the "New York Renewable Portfolio Standard Act of 2016"

Purpose

To deepen the State of New York's commitment to promotion of the development of new renewable energy generation resources.

Summary of provisions

Section One of the bill is the short title.

Section Two creates the legislative intent.

Section Three provides for codification of the renewable portfolio standard and establishes specific goals.

Section provides that this act shall take effect immediately.

Justification

New York's renewable portfolio standard (RPS) is the state's primary policy tool to promote the development and use of new renewable energy generation resources. For reasons encompassing the effects of climate-change driven storm and other extreme weather events upon the state, and to shore up New York's energy independence, the Public Service Commission established the RPS in 2004, and subsequent governors and legislatures have supported the policy and from time to time, increased the policy's goals.

It has become clear that the state of New York's economy would be improved by creating a domestic renewable energy manufacturing and/or research and development industry. One way to do so is by increasing the state's use of renewable energy and setting a goal reasonably calculated to send market signals to solar, wind, hydroelectric, tidal, biomass and other alternative and renewal energy producers and manufacturers, incentivizing them to locate production facilities in New York.

Legislative history

2014: S.7526 - Referred to Energy and Telecommunications

Fiscal implications

None.

Effective date

This act shall take effect immediately.