10.15.20 - NY’s utility regulator expands subsidies for renewables
'The Public Service Commission on Thursday approved a key measure to support the state's climate law requiring 70 percent renewable electricity by 2030.'
'The commission's order increased the amount of new renewables and offshore wind that the New York State Energy Research and Development Authority can procure each year, finalized programs to subsidize existing and repowering renewables and established a new potential subsidy for power delivered directly to New York City.
Why it matters: The new order modifies the existing Clean Energy Standard to support achievement of the state's Climate Leadership and Community Protection Act.'
'It potentially clears the way for the import of Canadian hydropower to meet the goals. It also addresses longstanding concerns from owners of older wind and hydropower plants, creating a five-year program to procure most of the renewable attributes those projects generate.'
'Costs for these subsidies will all be passed on to utility customers on their electricity bills.'