Bill > S01537

This bill aims to modify New York's Competitive Tier 2 renewable energy program to better support and preserve existing large-scale renewable energy resources in the state. The bill addresses challenges facing legacy renewable energy generators, who are struggling with falling market revenues and the potential to export their renewable energy credits (RECs) to neighboring states. Specifically, the bill directs the Public Service Commission to work with the New York State Energy Research and Development Authority (NYSERDA) to make several key changes to the existing program. These modifications include setting the maximum bid price for renewable energy credits at 75% of the current Tier 1 REC sale price, eliminating the $200 million cost cap on program expenditures, and extending the program through 2030 with annual solicitations. The bill's underlying intent is to ensure that New York can meet its ambitious Climate Leadership and Community Protection Act (CLCPA) targets, which require 70% of electricity to come from renewable sources by 2030 and 100% by 2040. By providing more financial support and certainty to existing renewable energy facilities, the bill seeks to prevent the loss of valuable renewable energy resources and support the state's clean energy goals, job growth, and energy security.

Transportation and Infrastructure

https://www.nysenate.gov/legislation/bills/2025/S1537