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NYSERDA's Compiled Investment Plan: A Roadmap for Clean Energy Fund Market Development and Innovation

Strategic Insights

— 2 min read

The New York State Energy Research and Development Authority (NYSERDA) has released its Compiled Investment Plan (CIP) for the Market Development and Innovation & Research portfolios, outlining strategies, activities, funding, and expected benefits for achieving New York State's ambitious climate goals. The CIP is a comprehensive roadmap for these two portfolios, managed by NYSERDA to promote clean energy and efficiency measures, and address environmental and energy challenges. The plan is guided by the September 9, 2021 Public Service Commission Order Approving Clean Energy Fund Modifications, which aims to achieve a carbon-free electricity system by 2040 and reduce greenhouse gas emissions by 85% below 1990 levels by 2050.

Key Takeaways:

  • The Market Development and Innovation & Research portfolios are administered by NYSERDA and consist of 11 focus areas: Low-to-Moderate Income, Single Family Residential, Multifamily Residential, Commercial/Industrial/Agriculture, New Construction, Communities, Transportation, Clean Heating & Cooling, Workforce Development, Codes and Standards, and Renewables/Distributed Energy Resources.
  • The CIP outlines a strategy to achieve New York State's clean energy and environmental objectives, including achieving a carbon-free electricity system by 2040, reducing greenhouse gas emissions by 85% below 1990 levels by 2050, and supporting renewable energy goals to achieve 70% renewables by 2030 and 100% clean power by 2040.
  • The plan identifies specific goals for each focus area, including targeting no less than 35% of benefits to disadvantaged communities, and supporting renewable energy goals to achieve 9 GW of offshore wind.
  • NYSERDA will make a filing within 60 days of finalization for the Climate Justice Working Group criteria related to disadvantaged communities, describing how the criteria will be integrated into CEF operations, and the methods to be utilized in tracking benefits delivered to these communities.
  • The CIP will be a living document, with NYSERDA continuing to actively manage and evaluate the programs, and filing with the Commission at least annually on November 1.

Statistics:

  • By 2040, New York State aims to achieve a carbon-free electricity system.
  • By 2050, New York State aims to reduce greenhouse gas emissions by 85% below 1990 levels.
  • By 2030, New York State aims to achieve 70% renewables.
  • By 2040, New York State aims to achieve 100% clean power.
  • The Commission targets no less than 35%, with a goal of 40%, of overall benefits to disadvantaged communities.
  • 9 GW of offshore wind is targeted by 2040.

Sources:

  • NYS Public Service Commission, Order Approving Clean Energy Fund Modifications, Cases 19-E-0735, 18-M-0084, 14-M-0094 and 13-M-0412, Issued and Effective September 9, 2021.
  • NYS Department of Public Service document matter management system Case number 14-M-0094: https://documents.dps.ny.gov/public/MatterManagement/CaseMaster.aspx?MatterCaseNo=14-M-0094&CaseSearch=Search

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