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Sustainable development

Con Edison Invests in Clean Energy Technologies to Support New York's Net-Zero Economy

Strategic Insights

— 2 min read

As part of its efforts to support New York's goal of a net-zero statewide economy by 2050, Con Edison is investing in a range of clean energy technologies and projects, including transmission lines, electric vehicle charging infrastructure, heat pumps, energy efficiency, and battery storage. The company has made significant progress in building a workforce that is reflective of the communities it serves and has provided financial support to over 600 nonprofit organizations in 2022, focusing on environmental stewardship and STEM education.

Key Takeaways:

  • New York's target of 70 percent renewable power by 2030 requires new transmission lines that will carry energy generated by offshore wind turbines, with Con Edison building the Reliable Clean City project to deliver large amounts of power to New York City's outer boroughs.
  • Con Edison has incentivized the installation of heat pumps and other clean heat technologies in over 24,000 buildings to date, with a goal of helping to electrify 150,000 buildings by 2030.
  • The company's customers in New York City, Westchester, Orange, and Rockland counties have installed over 60,000 solar systems to date, totaling 700 megawatts of clean generation capacity.
  • Con Edison's PowerReady incentive program has supported over 2,600 charge points for electric vehicle charging infrastructure, with a goal of 19,000 by 2025 and 400,000 by 2035.
  • The company has installed smart meters across nearly its entire customer base, allowing customers to track their energy usage in near-real time and giving Con Edison deeper insight into its electric network, improving system efficiency and reducing the impact of service outages.
  • Con Edison provided financial support to over 600 nonprofit organizations in 2022, with a focus on groups supporting environmental stewardship and STEM education.

Statistics:

  • Of the over 24,000 buildings that have adopted heat pumps and clean heat technologies, 24,000 is the exact number of buildings incentivized by Con Edison to date.
  • The total capacity of solar systems installed by Con Edison's customers is 700 megawatts, a figure that captures the significant clean generation capacity added to the grid.
  • Con Edison's PowerReady incentive program has supported over 2,600 charge points for electric vehicle charging infrastructure, with 2,600 as the exact number of units counted.
  • The company has installed smart meters across nearly its entire customer base, impacting millions of customers with improved energy monitoring and grid management.

Sources:

  • Consolidated Edison Company [Category: Energy Equipment & Services, ESG]
  • "Consolidated Edison, Inc." (PR Newswire, 2022)
  • "Con Edison's Annual Sustainability Report" (2022)

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