New York Installs 3 GW of Solar Capacity By Q3 FY21

New York Government Clears the Path for 6.4 GW Clean Energy Projects

According to the governor of New York, Andrew Cuomo, the state has installed 3 GW of solar capacity by the end of Q3 FY21, with the state’s total pipeline reaching 5.7 GW.

The state had added a capacity of 2,840.3 MW by Q1 2021, which took New York to the 10th position nationally in the terms of solar additions. New York has a considerable amount of solar potential and has consistently been in the top 10 US solar markets. The state has other policies in place to promote solar investment, including a feed-in tariff through Long Island Power Authority (LIPA) and net metering.

New York has a goal of achieving 100% clean energy by 2040. As for the target of 6 GW by 2025, the state has already reached 95% of its aim if we also consider the under-construction projections of approximately 2.7 GW, as mandated in the Climate Leadership and Community Protection Act.

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According to the Solar Energy Industries Association (SEIA), the cost to install solar has dropped by more than 70% over the last decade, leading the industry to expand into new markets and deploy thousands of systems nationwide. SEIA also led efforts to extend and expand the NY Sun program and helped boost incentive values for community solar projects over the initially proposed values, which resulted in the active additions of solar in the state.

NY Sun has granted more than USD 1 billion in incentives and has leveraged USD 5.3 billion in private investments. It has also pledged USD 30 million to projects benefiting environmental justice and disadvantaged communities.

SEIA was part of a coalition that supported the regulatory expansion of the Clean Energy Standard and the 70% renewable energy by 2030 goal. According to the Senior Director of state policy east, at SEIA, Mr. David Gahl, this 3 GW milestone is an impressive accomplishment and a testament to New York’s strong commitment to solar. Additionally, the other 2.7 GWs of under-construction solar projects are expected to get live by the end of two more years.

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Not only in solar, but New York has been investing in green hydrogen exploration too. The state will use USD 12.5 million of state funds for long-duration energy storage technologies and pilot projects exploring the potential for green hydrogen production, according to Governor Andrew M Cuomo.