
New York is set to miss its statutory target of achieving 70 percent renewable electricity by 2030, pushing the goal back to 2033. This delay is driven by increased electricity demand and economic challenges, including inflation and supply chain disruptions. The state’s ambitious renewable goals have been hampered by developers backing out of contracts due to rising costs, as well as increased demand from large manufacturing projects.
Details:
- New York will likely miss its 2030 target for 70 percent renewable electricity by three years.
- The delay is attributed to increased electricity demand and economic conditions, such as inflation and supply chain disruptions.
- The Hochul administration is considering shifting the target to 2033.
- Factors like large manufacturing projects and the withdrawal of developers from contracts have contributed to the delay.
- The state’s renewable electricity mandate is a key part of its climate law, aiming to reduce reliance on fossil fuels.
- The Public Service Commission and NYSERDA report suggests increasing procurement of wind and solar projects to meet the new timeline.
- Offshore wind projects are crucial for meeting the 2033 target, with several projects already in progress.
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