Governor Cuomo's Clean Energy Standard sets up clean energy credit subsidy system to support renewables and nuclear power New York energy regulators yesterday agreed a "comprehensive and ambitious" new Clean Energy Standard requiring 50 per cent of the state's electricity to come from renewable sources by 2030. The Standard...
New York State’s energy regulators have launched a new Clean Energy Standard requiring 50% of the region’s electricity to be generated from renewable sources by 2030. The Standard outlines a series of subsidies designed to support upstate nuclear plants and to enable the state to achieve its intended 40% reduction in greenhouse gases from 1990 levels by 2030. This target will rise to an 80% cut by 2050. From 2017, energy suppliers will need to obtain a specified number of renewable energy credits each year, which will be used to finance the state’s nuclear facilities and renewable projects.