Con Edison's Sustainability Report Highlights Progress and Future Plans in Renewable Energy and Climate Change Resilience

Strategic Insights -

Con Edison issued its annual Sustainability Report, showcasing the company's strong progress and future plans in areas such as electric vehicles, renewables, and new transmission lines to deliver green power. The report detailed the extraordinary steps the company took to protect the public and its workers during the pandemic, while also highlighting its commitment to ensuring its energy-delivery systems remain resilient in the face of climate change. As the company continues to transition towards clean energy, it is investing heavily in renewable energy sources, including solar and wind power, and has set a goal to supply its customers with 100% clean electricity by 2040.

Key Takeaways:

  • Con Edison has made significant progress towards fulfilling its Clean Energy Commitment, with a focus on electric vehicles, renewables, and new transmission lines to deliver green power.
  • The company has invested $600 million in large-scale renewables in 2020 and intends to continue growing this side of its business.
  • Con Edison is supporting smaller, distributed solar and battery projects within its own service territory, with customers having installed over 48,000 solar systems with a collective generation capacity of over 500 megawatts.
  • The company is helping to lay the groundwork for the coming surge in electric vehicles that will be increasingly fueled by renewable energy, with its PowerReady program investing over $310 million by 2025 to incent the connection of thousands of new EV charging stations.
  • Con Edison is working with the NYC Department of Transportation to install 120 curbside Level 2 charging ports across the city as part of a pilot program.
  • The company is investing $1.5 billion in energy efficiency improvements by 2025, helping customers save money, reduce emissions, and create buildings that are more attractive places to live and work.
  • Con Edison is helping to build a green energy transmission "superhighway" for New York, needed to bring renewable energy to consumers, with a recently approved $780 million investment in three electric transmission projects in NYC.
  • The company has committed to supplying its customers with 100% clean electricity by 2040 and has lowered its own carbon emissions by more than half since 2005.

Statistics:

  • Con Edison has invested $600 million in large-scale renewables in 2020.
  • The company owns more than 2,800 megawatts of solar and wind projects in 20 states, with another 400 megawatts under construction.
  • Con Edison has over 48,000 solar systems installed by customers, with a collective generation capacity of over 500 megawatts.
  • The PowerReady program will invest over $310 million by 2025 to incent the connection of thousands of new EV charging stations.
  • Con Edison is working with the NYC Department of Transportation to install 120 curbside Level 2 charging ports across the city.
  • The company is investing $1.5 billion in energy efficiency improvements by 2025.
  • Con Edison has a goal to supply its customers with 100% clean electricity by 2040.

Sources:

  • Con Edison 2020 Sustainability Report
  • Con Edison Press Release, June 18, 2022