By Danielle Sugarman<\/p>\n
Fellow<\/p>\n
Recently New York has taken a step forward in ramping up its solar energy commitment.\u00a0 In February of 2011 New York Assembly member Steven Englebright (D), along with Energy Committee Chair Assembly member Kevin Cahill (D), introduced The Solar Industry Development and Jobs Act of 2011 (Solar Jobs Act) (A. 05713<\/a>).\u00a0 The bill is being sponsored in the New York Senate by Republican George Maziarz (S. 4178<\/a>).\u00a0 The goal of the Solar Jobs Act is to spur the development of a robust solar power market in New York State and to make New York a significant player in the growing renewable energy industry.\u00a0<\/p>\n Despite having demonstrated an early commitment to solar energy and having vast in-state growth potential, in recent years New York has fallen behind neighboring states like New Jersey in solar installations. \u00a0Currently, New York\u2019s installed solar photovoltaic (PV) capacity stands at roughly 54 megawatts (MW) \u2013 representing less than 0.02% of New York\u2019s electricity and less than 3% of the national solar market share. [1]<\/a>\u00a0 New Jersey, on the other hand, has installed more than twice that amount in 2010 alone.\u00a0 In an effort to reverse this trend, the Solar Jobs Act seeks to \u201ccreate a solar energy enterprise that will elevate the state to be among the world\u2019s cutting edge clean energy industry leaders, while helping to secure increased economic development for New Yorkers.\u201d[2]<\/a>\u00a0\u00a0\u00a0<\/p>\n The bill sets a target of developing 5,000 MW of solar PV by the year 2026 by requiring that each New York retail electric supplier procure \u201cSolar Renewable Energy Credits\u201d (SRECs) according to a compliance schedule. The SRECs would be used to stimulate solar development and open a trading market for electricity in New York.\u00a0 The SRECs can be sold from state to state and will be purchased by utilities that have to show a certain amount of energy created by renewable resources.\u00a0 Each New York retail electric supplier would be required to gradually increase the amount of solar energy produced until solar power comprises at least 4.5% of the retail supplier\u2019s sales by 2025.\u00a0 Retail electric suppliers that meet certain conditions would be permitted to resell or dispose of SRECs that are in excess of its obligations under the bill.\u00a0 The Renewable Energy Credit model is expected to provide investment stability through long-term contracts and competitive bidding in open auctions.\u00a0 It was derived from the best practices of other states and is designed to achieve the goals of the bill at a minimum cost to producers and at a maximum benefit to New York ratepayers.\u00a0\u00a0<\/p>\n By installing 5,000 MW of solar PV by 2026, the Solar Jobs Act would provide enough renewable electricity to power 500,000 households \u2013 roughly equivalent to 3% of the state\u2019s total electric load.\u00a0 According to a study by Vote Solar, deploying 5,000 MW of solar would avoid as much as 120 million tons of CO2 emissions, or the equivalent of taking 2.5 million cars off the road.[3]<\/a>\u00a0 As such, the bill would decrease the state\u2019s production of harmful emissions by reducing the need for fossil fuel based electricity generation, especially at times of peak energy demand.<\/p>\n Furthermore, advocates of the Solar Jobs Act argue that investment in New York solar energy will also have a positive impact on the economy.\u00a0 The bill is expected to create tens of thousands of new jobs across a wide range of education requirements, salary levels and fields.\u00a0 Many jobs would involve construction and operation of solar panels \u2013 jobs which are inherently local and which are unable to be outsourced. Proponents of the bill expect that it will generate a multi-billion dollar boost in wages and economic output which can then be reinvested in New York\u2019s economy.[4]<\/a><\/p>\n Proponents of the Solar Jobs Act also argue that the timing of the bill is ideal given the declining cost of solar, the increased cost of fossil fuels and the availability of federal tax credits.[5]<\/a>\u00a0 Currently there is strong support for the bill in both Houses with Senator Geroge Maziarz backed by a bi-partisan group of 13 Senate co-sponsors, and Assemblymembers Englebright and Cahill backed by 31 Assembly co-sponsors and multi-sponsors.\u00a0 Additionally, there is a diverse coalition of business, environmental and health organizations fighting for the bill\u2019s passage.\u00a0 On April 13, the Assembly Energy Committee approved the bill and referred it to the Assembly Ways and Means Committee. \u00a0The Legislature is now on break, but advocates are pushing to make the bill a priority when they return in May.\u00a0 Proponents hope that the bill\u2019s strong backing and economic potential will aid in getting this legislation signed into law.<\/p>\n