New York Clean Energy Plan to include massive investment into renewable energy

Last week, the Governor of New York announced a dedicated plan to tackle climate change by reducing greenhouse gas emissions and developing the clean energy market.

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The NY Clean Energy Jobs and Climate Agenda will focus on reducing emissions from fossil fuel sources and aim to strengthen the Regional Greenhouse Gas Initiative. The plan will commit to driving the development of clean energy technology, including offshore wind, solar energy, energy storage and energy efficiency.

The new plan is expected to drive market development within the clean energy industry and generate new jobs in the wider region. The governor has highlighted that they plan to invest heavily into renewable energy in a bold action to tackle climate change, protect the environment and support the future development of clean energy jobs.

The plan will include the following guidelines:-

-Implement a 30% limit reduction of carbon dioxide, equating to over 130 million tonnes of additional carbon pollution.

– Reduce the emission levels from the regions highest pollution power stations.

-Adopt new regulations to terminate the use of coal in NY power plants by the year 2020.

The governor announced $15 million of investment would go towards training individuals for working in the offshore wind market. A further part of the plan will be aimed at attracting further investment into infrastructure and supply chain activities to support the growth of the renewable energy industry.

Two key challenges for New York and the governor plans are the requirements to upgrade its aging energy infrastructure which has been estimated to have a cost of close to $30 billion over the next ten years. The second major challenge is providing sufficient storage methods for energy and dispatch the intermittency of clean energy resources.

As a result, New York intends to develop 1500 MW of energy storage by 2025 and hire a workforce of over 30,000 people. This target represents the biggest commitment to energy storage market by any capita in the USA. To enable the plan to become a reality, New York will require additional support from the NY Green Bank for storage-related investments and from NYSERDA to support energy storage pilot schemes.

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