The 2015 New York State Energy Plan (SEP), released on June 25, 2015, provides a roadmap to advance the Reforming the Energy Vision (REV) initiative, which seeks to transform New York’s utility regulatory structure by integrating greater levels of distributed energy resources (DER) and empowering customers with better energy management options. Unveiled in April 2014, REV calls for a fundamental reconsideration of energy sector regulatory paradigms and markets, with an emphasis on the role of utilities and clean energy programs in meeting policy objectives. The 2015 SEP targets 50 percent electricity generation from renewable resources by 2030, providing a clear signal to advance an energy future focused on distributed generation and renewable energy.
Simultaneously, the New York State Energy Research and Development Authority (NYSERDA) announced that it is requesting a 10-year program authorization of approximately $5B in new strategic investment through the Clean Energy Fund (CEF), which intends to maximize the economic opportunity presented by REV. On June 1, NYSERDA proposed a long-term commitment to large-scale renewables (LSRs) through a $1.5B public investment over 10 years – comparable to investments made over the past decade through the Renewable Portfolio Standard (RPS).
Under the REV construct, a new electric distribution system platform will advance DER such as solar energy, wind energy, storage, and demand response to more efficiently benefit customers and the electricity grid. New York will commit to progressive energy regulatory changes that provide new energy saving opportunities, local power generation, and improved reliability. REV progress will animate the consumer sector as customer-side resources can become a primary tool in improving the utility system’s efficiency and enabling deployment of cleaner and more resilient technologies. Energy storage and other grid technologies, such as intelligent grid-facing equipment and storage applications that support grid integration of intermittent renewables will benefit under REV