Held on June 2, 2022
New York is executing its policy path to achieve 70% renewable energy by 2030. But the landscape to get from 2030 to achieving 85% economy-wide GHG reductions by 2050 is largely undefined.
Those making long-term business decisions – clean energy developers and investors, owners and operators, project hosts, workers and supply chain, utilities and energy consumers – are thirsting for visibility into the market and policy landscape. On June 2, 2022, SEA held a webinar to explore what is known and what can be surmised as New York fills in the blanks.
The Climate Leadership and Community Protection Act (CLCPA) established nation-leading clean energy and climate goals for 2030 and 2040 and beyond. Through the Clean Energy Standard, New York has created a renewable energy market, supported by an ecosystem of demand and supply programs, that focuses on fulfilling the CLCPA’s 70% renewable energy by 2030 goal. However, the landscape to get from 2030 to achieving 100% zero-carbon electricity by 2040 and 85% economy-wide greenhouse gas reductions by 2050 is largely undefined.
In this 1.5-hour webinar, SEA’s Market Analytics team compiled what is known about New York’s post-2030 clean energy policy and market planning and consider New York’s paths to meeting its 2040 and 2050 goals. The team explored New York’s future clean energy policy and market landscape and its transitioning grid, highlighting the opportunities, risks and uncertainties those making long-term business decisions in this marketspace should consider.
Specifically, the webinar covered the followings:
- New York’s current progress, development and challenges toward meeting the 70% by 2030 renewable energy goal;
- Examination of the incremental market scale for various renewable and clean energy resources, leveraging recent public studies on statewide load, future renewable energy supply, and the role of zero-carbon resources;
- Discussion of post-2030 opportunities, risks and uncertainties for New York’s clean energy policy and market landscape, including those associated with the following topics:
- Policy and market structures for supporting incremental clean energy and zero-carbon resources;
- Clean energy market outlet, volume and scale;
- Treatment of post-NYSERDA contract supply;
- Wholesale market evolution under a high clean energy penetration future;
- Impact of beneficial electrification;
- Role of emerging zero-carbon technologies and renewable fuels in the grid of the future; and
- Ongoing policy, market, and system planning opportunities where stakeholders can participate to help shape the New York clean energy policy and market future.
This webinar is a part of a series of deliverables available to SEA’s New York Renewable Energy Market Outlook (NY-REMO) subscribers, that’s offered to non-subscribers on a stand-alone basis. The webinar recording is available for purchase; please contact Po-Yu Yuen (pyuen@seadvantage.com) for pricing and additional order information.