By: Richard Spilky, RESA Member from Constellation
Last Fall, New York Governor Kathy Hochul issued a proclamation on the 15th anniversary of Climate Week in the Empire State, recognizing September 17-24 as ‘Climate Week.’ The proclamation reiterates the State’s steadfast dedication to lowering greenhouse gas emissions, enhancing community resilience, fostering equitable opportunities for its residents, and otherwise combating the devasting effects of climate change. New York State has some of the nation’s most ambitious clean energy goals under the Climate Leadership and Community Protection Act’s mandate of seventy percent renewable generation by 2030, emission-free power generation by 2040, and economywide net-zero emissions by 2050.
RESA recognizes the importance of these goals and is proud to be part of the solution. With their expertise and commitment, its members are well-positioned to help New York achieve its climate objectives.
One of the bedrock principles of RESA and its members is competition, which is the most effective means for efficiently allocating resources and directing investment in energy, similar to the market dynamics for other goods and services. RESA also believes that competition among retail energy companies brings benefits to consumers that are not readily provided through traditional utility regulation, including product innovation, improved customer responsiveness, and enhanced opportunities for clean energy.
RESA recently updated its Phil O’Connor Thought Leadership figures with updated EIA data illustrating two important points:
- Competitive (restructured) power markets achieve a greater level of emissions reductions (attributable to electric power production) than the traditional, vertically integrated (monopoly) markets.
- New York’s competitive market stands out as having done even better from an emissions reduction achievement perspective compared to both groups.
New York’s leadership is largely attributed to a combination of competitive solicitations for new renewable energy by the New York State Energy and Research Development Authority (NYSERDA), harnessing market forces to drive private investment at the wholesale and retail levels rather than relying exclusively on ratepayer-supported, vertically integrated utility monopolies. The data shows that competitive power market forces can “get it done” when it comes to emissions reductions.
NYSERDA Large Scale Renewable Solicitations
| Solicitation Year | Projects Approved | Amount Invested |
| 2017 | 26 agreements to develop 1,383 MW of new, clean energy capacity, including a hydroelectric project, three wind projects (including one with energy storage), and several solar projects | $1.4 billion |
| 2018 | 19 agreements to develop 1,364 MW of new, clean energy capacity, including three wind projects, including one with energy storage, and 16 solar projects, including one with energy storage) | $1.1 billion |
| 2019 | 21 agreements for 17 solar projects, including two with energy storage, three wind repowering projects, and one new wind project, which are expected to contribute 1,278 MW of new, renewable energy capacity | $1.0 billion |
| 2020 | 21 agreements for solar projects, including three with energy storage and one hydroelectric facility to develop 2,111 megawatts of new, renewable energy capacity | NYSERDA expects projects to spur nearly $2.5 billion of direct private investment |
| 2021 | 22 solar projects, including six with energy storage, to develop 2,408 megawatts of new, renewable energy capacity throughout New York State; The agreements will also support the development of 159 megawatts of utility-scale energy storage | NYSERDA expects projects to spur nearly $2.7 billion of direct private investment |
| 2022 | Awards for 22 solar, wind and hydroelectric projects to develop 2,410 megawatts of new and repowered renewable energy capacity throughout New York State; The agreements will also support the development of 20 megawatts of utility-scale energy storage | NYSERDA expects projects to spur nearly $4 billion of direct private investment |
Source: NYSERDA Large Scale Renewables solicitation webpage
RESA congratulates New York on its success as it celebrates 25 years of competitive markets in the Empire State. Its members look forward to continuing to offer value-added products and services supporting New York’s climate objectives.
