New York Gov. Andrew Cuomo recently announced an ambitious acceleration of energy efficiency in the state, including a comprehensive plan to achieve a new target for significant greenhouse gas emission reductions, decrease consumer energy costs and create job opportunities.
Meeting the new energy efficiency target will deliver nearly one third of the greenhouse gas emissions reductions needed to meet New York's climate goal of 40 percent reduction by 2030, Cuomo's office said.
Statewide, New Yorkers pay about $35 billion annually for electricity and heating fuels, and buildings are responsible for 59 percent of statewide greenhouse gas emissions. The new 2025 energy efficiency target will cut emissions and energy costs by incentivizing building developers, commercial and institutional building owners, and residential households to pursue building improvements to reduce energy consumption by 185 trillion BTUs below forecasted energy use in 2025.
According to the governor’s office, “Meeting the target will accelerate achievement of energy efficiency in the next 7 years by more than 40 percent over the current path. The new energy efficiency target will not only save substantial heating fuels but will set New York State on a path to achieve annual electric efficiency savings of 3 percent of investor-owned utility sales in 2025.”
The initiative will support the growth of cost-effective private sector energy efficiency businesses and further Reforming the Energy Vision opportunities for third-parties to partner directly with utilities. The strategies will deliver benefits to New York consumers through new building retrofits, efficient appliances, and innovative technologies like heat pumps. REV aims to revamp the state’s electric sector.
New York's investor-owned utilities will also be called on to achieve significantly more in both scale and innovation through their energy efficiency activities.
The initiative will also support the Clean Energy Standard mandate to generate 50 percent of the state's electricity through renewable energy sources by 2030.
As part of this new energy efficiency target, Cuomo is also directing the New York Public Service Commission (PSC) to ensure that a substantial portion of the new energy efficiency activity be directly targeted to programs for low to moderate income New Yorkers, which will complement the state's existing progressive energy options for these New Yorkers.
Individuals and organizations representing low to moderate income and environmental justice communities will be engaged and consulted to design solutions, including the Governor's Environmental Justice and Just Transition Work Group.