RENEW Offers Model to Promote Development of New York’s Wind Resources

Following the New York State Energy Research and Development Authority’s (NYSERDA) July 1, 2014, supply-side resources Stakeholder Roundtable discussion, RENEW recommended the state move from a model of central procurement for renewable energy certificates (“RECs”) to the distribution utilities becoming counterparties to renewable generators for long term contracts consisting of energy and RECs both at a fixed price. RENEW offered several examples of how this approach in New England lowered project development costs and yielded the lowest prices for consumers. RENEW also urged New York to work in concert with New England on renewable energy and transmission development, such as is now being conducted between the governors of New England, to further New York’s economic development and New England’s renewable energy goals.