24 Sep '14, 10pm

New York Proposes $5B for Clean Energy Fund to Replace Mandates

New York wants to spend $5 billion over the next decade to transition from a regime based on soon-to-expire renewable-energy and efficiency mandates into a new regulatory and economic model that brings distributed, customer-owned energy assets into account. In a Tuesday filing with state regulators (PDF ), the New York State Energy Research and Development Agency (NYSERDA) proposed raising $5 billion from electric bill surcharges over the next ten years to create a Clean Energy Fund (CEF), one that would essentially take over responsibility to “ensure the delivery and continuity of clean energy programs” statewide. NYSERDA, which has collected about $5 billion from the surcharge since 2008 , says the additional funding is needed to replace the state’s current System Benefits Charge (SBC), Energy Efficiency Portfolio Standard (EEPS), and Renewable Portfolio Standard (RPS), ...

Full article: http://www.greentechmedia.com/articles/read/New-York-Prop...

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