Following a request from NYSERDA in November of 2019, the New York State Public Service Commission (PSC) has issued an Order, effective as of May 14, 2020 (the date of issuance), extending and expanding distributed solar incentives.
The Order, available to read in full at this link, is intended to help in achieving the target of 6 GW of distributed solar installations by 2025. This target, as mandated by the Climate Leadership and Community Protection Act (CLCPA), is just one of many ambitious targets outlined in the CLCPA:
- 85% Reduction in GHG Emissions by 2050
- 100% Carbon-free Electricity by 2040
- 70% Renewable Energy by 2030
- 9,000 MW of Offshore Wind by 2035
- 3,000 MW of Energy Storage by 2030
- 6,000 MW of Solar by 2025
- 22 Million Tons of Carbon Reduction through Energy Efficiency and Electrification
Notable points from the PSC Order include:
- Authorization to fund NY-Sun $573 million through 2025, with $111 million of this total allocated to the Community Adder.
- Expanded potential participation for net-metered projects receiving value stack compensation, for up to up to 10 nonresidential/farm customers. Additionally, utilities must update relevant tariffs by November 1, 2020.
- NYSERDA is directed to establish a Community Adder incentive in two or more declining-value segments. This will replace Community Credit VDER stack value.
If you’re looking for a solar installer in New York, look no further. YSG has been working in the solar industry for over a decade, serving a number of states across the country. Send us an email, or call at 212.389.9215 to get started.
YSG Solar is a project development vehicle responsible for commoditizing energy infrastructure projects. We work with long-term owners and operators to provide clean energy assets with stable, predictable cash flows. YSG's market focus is distributed generation and utility-scale projects located within North America.
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