Apartment-Dwelling New Yorkers can't Install their own Solar Panels, but they could soon Buy into Large-Scale Wind and Solar Power Projects coming to the Region through a New Offering from Con Ed.
The Utility is seeking the State's Approval for a Program that would allow its more than 2 Million Residential and Small-Business Customers in Manhattan, the Bronx, and Westchester, to effectively Purchase the Power produced by Offshore wind on Long Island or Rooftop Solar Arrays that Top City Warehouse Buildings.
Gov. Andrew Cuomo (D) said in July that the State is seeking Bids for Wind and Solar Projects that could Produce 4,000 megawatts of Energy, enough to Power 1.5 Million homes. Those Projects pump the Energy they create back into the State's Electric Grid, generating Renewable Energy Credits that are Purchased by Utilities such as Con Ed.
Electric Bills will Increase more than 4% this year following Con Ed Rate Hike Approval. New York Power Demand hits High for the year, Con Ed says. Under this New Proposal, Customers could Opt-In to have Con Ed take their Monthly Bill Payment and Apply it Directly toward the Purchase of Renewable Energy Credits. The Program would Cost most Customers an Extra $10 per month from their Typical Bill, Con Ed estimated.
Cuomo has Mandated that the State reach 100% Emission-Free Energy use by 2040. Con Ed is pitching this program as a way to Reach that Goal without burdening Low-Income Customers. Those who are best positioned to Pay for Clean Energy and most Passionate about the Issue will Opt-In, potentially Funding more Wind and Solar Projects without Raising Energy Costs for all, as the Company described in a State Filing.
About 4% of the Renewable Energy Credits produced by New York Solar Arrays and Wind Farms were Sold Out-of-State in 2018, Con Ed said, a Number the Utility warned could Grow if New Yorkers are Not provided more Avenues to Purchase them.
New Yorkers have some Existing Options for Buying into Renewable Energy Outside of Con Ed's Pending Program. Community Solar Programs launched in 2018 allow Residents to Subscribe to Energy Credits produced by various Large-Scale Solar Projects. The Residents use the Credits to Offset their Electricity Bills. The Effort is still in its Infancy, however, with about 190 Completed Projects Statewide, producing 160 megawatts of Electricity.
Con Ed hopes the State Public Service Commission will Sign-Off on the Proposal before the end of year, with the Green Power Program launching in 2022. While 2.7 Million Customers would be Eligible, the Company estimates just 20,000 Residential Users will Sign-On in the First year of the Program, enough to Purchase about 72,000 Renewable Energy Credits. One Credit is Equal to about 1 Megawatt of Power. The Company hopes to add 200,000 Customers to the Program within its first Three years.
NYC Wins When Everyone Can Vote! Michael H. Drucker
