A strong solar bill currently moving through the state senate has the potential to make New York a national solar leader. The New York Solar Jobs Act of 2010 establishes aggressive annual solar capacity targets, reaching 2.5% of the state’s total energy–an estimated 5GW–by 2025.
The legislation would also provide a strong economic opportunity in the state. According to NREL’s Job and Economic Development model, the program will support about 22,000 jobs. On top of this, New York is expected receive a $20 billion boost to its economy. Independent energy consultants from Crossborder Energy estimated the cost of the program to be a 39 cent increase in each NY resident’s energy bill.
If this bill is passed into law, New York will be in position for a robust SREC market. SRECTrade already has a presence with many New York solar companies, and as soon as this bill is passed we will be working toward establishing a market for SRECs in the state.
For more information on the bill, find the complete article here.