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Who cares
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Sponsors
No co-sponsors yet.
History
- Committed to rules
- Advanced to third reading
- 2nd report cal.
- 1st report cal.1068
- Referred to energy and telecommunications
Companion bill
The same bill in the other chamber. A bill becomes law when one version passes both houses and the governor signs it, so either number can carry it.
Relates to enacting the renewable energy credit opportunity and exchange protection act
In Assembly Committee · Energy · Sponsor Marcos Crespo
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
Title of bill
An act to amend the public service law, in relation to the "renewable energy credit opportunity and exchange protection act" establishing the rights of consumers and businesses to own and trade renewable energy credits
Purpose
To clarify that consumers shall have the unqualified right to own and trade renewable energy credits derived from qualified renewable energy generation
Summary of specific provisions
Sections 1: provides definitions of relevant terms
Section 2: delineates the rights of a customer-generator pursuant to renewable energy generation to own and sell any credits deriving such generation
Section 3: Permits a customer generation to register their renewable energy credits through the generation attribute tracking system established pursuant to section 1854 of the public authorities law or in another state or group of states that maintains such a system.
Justification
The State of New York has taken many steps over the last several years to grow and incentivize renewable energy generation. These have included the NY SUN program, various sales and income tax incentives that benefit installers, on-bill recovery loans for renewable energy, expanded net metering and the Green Bank. The success of these programs has helped to make our state a national leader in clean energy. More recently, the Public Service Commission has begun a new proceeding aimed at ensuring that 50% of all energy produced in our state is from clean and renewable sources by the year 2030. This is an ambitious goal and one that will require more steps if it is to be realized.
Currently, New York State does not avail itself of a renewable energy credit trading system like many other states. One primary reason is that the state, through NYSERDA has maintained ownership of such credits because of the various subsidies involved with installations. In the past New York also lacked a generation attribute tracking system (GATS) that would be necessary to effectuate trading in renewable energy credits. That system is now in place, and as we move to a system that is includes lower subsidies and more private sector engagement, the time is right to authorize individuals and businesses to own and trade their own renewable energy credits. This bill establishes such a system
Prior legislative history
None.
Fiscal implications
None.
Effective date
This act shall take effect immediately.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.