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Home Market Commentary

New York pledges to invest in 1,278 MW of renewable energy capacity in multi-borough venture

Erin D by Erin Davis
July 8, 2020
in Deal Tracker, Industry Research, M&A Deals, Market Commentary, Solar Venture Capital Deals, Trend Watch
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New York pledges to invest in 1,278 MW of renewable energy capacity in multi-borough venture - Energy
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New York starts investing in solar and renewable ventures across all boroughs. From larger developments to rooftop solar panel installations on school buildings, the city is making strides to meet renewable energy goals and partnering with private and public companies to do it.

Among the recent solar installations are a series of projects in New York City. The New York Power Authority and New York City Department of Citywide Administrative Services have begun plans for solar installations on the rooftops of forty-six public schools.

There is also a series of installations across various counties totaling in 1,278 MW of renewable capacity. These installations range in size in all types of renewable and clean energy projects.

The NYPA and DCAS project will be located in sites of high diversity throughout all five boroughs on the rooftops of these schools. There will be 16 MW total, and the NYPA is asking for design submissions on these fifty sites. The NYPA will select the developers and arrange a 20-year power purchase agreement for DCAS and DEP at competitive pricing. As of now, this process has been stalled until August dependant on the request for proposals has been fulfilled.

New York is a 2 GW solar state – pv magazine USA
Source: PV Magazine

Solar storage will also have the option of being apart of these school constructions. The Wards Island location will be apart of this sequence as well, which will account for 5 MW through a combination of ground-mounted, carport, rooftop, and elevated canopy PV systems.

This school project is also contributing to the effort New York is taking to install 100 MW on public buildings by 2025 and reduce emissions by 80% by 2050.

Some of the larger developments of the solar projects are the North Side Energy Center, which is 180 MW by NextEra Energy Resources in Brasher, Massena, and Norfolk. Boralex will be building a 120 MW solar facility called Greens Corners Solar. SunEast Tabletop Solar is an 80 MW solar facility developed by SunEast Development. The last large solar project is also by NextEra Energy Resources will build a 200 MW solar facility with 20 MW of storage called Garnet Energy Center.

This is going to be developed using $2.5 billion in direct and private investment and create two thousand jobs over the course of the project. $1 billion is from state investment which shows the progress New York has made in the cost declines and progress of renewable energy.

The projects will also generate enough energy to power 350,000 homes in New York. With all of these projects in motion, they are making impressive progress on their Green New Deal. This is Governor Cuomo’s deal to obtain 70% of electricity from renewable sources by 2030. This aligns with the Climate Leadership and Community Protection Act which outlines a 100% carbon-free electricity sector by 2040.

Tags: public school solarrenewable energysolar energysolar start upssolar storageus solar
Erin D

Erin Davis

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Comments 1

  1. ปั้มไลค์ says:
    5 years ago

    Like!! Really appreciate you sharing this blog post.Really thank you! Keep writing.

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