This bill creates a new program in New York that requires electricity providers to purchase and retire tradeable geothermal renewable energy credits to support the adoption of geothermal heating and cooling systems. The legislation establishes a geothermal portfolio standard that will gradually increase the percentage of credits providers must acquire, starting at 0.1% in 2027 and reaching 2% by 2032, with a potential increase to 3% after a review. These credits are issued for eligible geothermal installations placed in service after January 1, 2026, and providers who fail to meet the requirement must pay an alternative compliance fee that decreases over time. The bill also creates a dedicated geothermal fund to receive these compliance payments, which will be used for geothermal deployment, workforce training, and low- and moderate-income installations.
Establishes an energy project revolving loan program and energy project revolving loan fund to encourage the development of renewable energy generating projects by awarding financial assistance for certain zero-emission energy generation projects.
Enacts the "affordable clean energy (ACE) act"; exempts renewable energy systems from certain requirements related to energy facilities (Part A); directs the New York power authority to propose a minimum of two priority transmission projects to address the areas of highest need on the bulk transmission system (Part B); exempts payment in lieu of taxes revenue from property tax cap calculations (Part C).
This bill allows the New York State Department of Environmental Conservation to enter into agreements or easements on state-owned reforestation lands to help connect renewable energy projects located outside those areas to the power grid. The legislation ensures that any such agreements will not disrupt the primary purposes of the reforestation areas, such as conservation and timber management. All agreements made under this authority must be recorded and made publicly available on the Department's official website. The bill takes effect immediately upon passage.
Requires the office of renewable energy siting and electric transmission to promptly publish applications for permits to site a major renewable energy facility or to site a major electric transmission facility.
Provides that the New York state energy research and development authority shall provide information to residential and commercial consumers regarding renewable energy technology incentive and affordability programs through a variety of methods, including brochures, posters, social media, television ads, and public ambassadors.
Enacts the climate and community investment act; prioritizes the allocation of public investments in disadvantaged communities; addresses climate change challenges through the expansion and growth of clean and renewable energy sources; adopts best value requirements for the solicitation, evaluation and award of renewable energy projects; establishes a community just transition program; establishes a climate pollution fee and a household and small business energy rebate; creates the climate and community investment authority.
Requires the public service commission establish a grid modernization surcharge imposed on utilities for the energy use of data centers and high-intensity data centers which meet a specified threshold of electricity or information-technology load; establishes the grid modernization fund to finance investments in system reliability, capacity expansion, and integration of clean energy resources.
Requires the office of renewable energy siting and electric transmission to establish and/or amend rules and regulations pertaining to standards related to the siting, design, construction and operation of major renewable energy facilities; requires such rules and regulations to include information relating to farmland protection and application procedures; provides for the repeal of such provisions upon expiration thereof.
Requires contractors and subcontractors performing construction work for covered renewable energy systems to have apprenticeship agreements; relates to the effectiveness of provisions of law related thereto.
