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What is the New York State Renewable Portfolio Standard?
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The state of New York has been demonstrating their commitment to environmental change more than ever before lately: with their attempts to pass fashion laws for fair working conditions, the New York State Climate Action Scoping Plan, the Climate Leadership and Community Protection Act, and now – the New York State Renewable Portfolio Standard.
What is the New York State Renewable Portfolio Standard, and how can it help the state of New York to achieve their emission reduction goals and overall transitional to a more sustainable society and clean energy economy?
What is the New York State Renewable Portfolio Standard?
The New York State Renewable Portfolio Standard was how the state of New York managed to reduce emissions across the state prior to the development and implementation of the Clean Energy Standard. Originally, the New York State Renewable Portfolio Standard, also known as RPS for short, was proposed in order to raise the proportion of renewable energy amongst New Yorkers to a minimum usage of 25% before the end of 2013.
RPS was first proposed in 2004, but it was officially expanded by the Clean Energy Standard, also known as CES for short by Governor Cuomo. In short, the ultimate goal of both the RPS and revamped, improved version, CES, was to help the state of New York reduce greenhouse gas emissions by 40% before 2030 and by a whopping 80% before 2050. RPS helped to accomplish this goal, as the New York State Renewable Portfolio Standard helped to provide the financial resources necessary to make renewable generators more widely available across the state.
What were the main goals of the New York State Renewable Portfolio Standard?
The New York State Renewable Portfolio Standard has four main goals, which include diversifying New York’s electricity portfolio, predominantly through the use of renewable energy sources, to make use of New York’s energy security with the use of renewable energy sources accessible within the state of New York itself, and to help to boost the economy through sustainable development and green investments that aid the environment instead of harm the planet such as through the investment of fossil fuels from out-of-state.
What were the benefits of the New York State Renewable Portfolio Standard?
There are several benefits to be had from the New York State Renewable Portfolio Standard. One of the overarching benefits of RPS include decreasing the state of New York’s dependency on out-of-state fossil fuels, which result in excessive greenhouse gas emissions. Additional benefits to the New York State Renewable Portfolio Standard include improving air quality, such as by reducing smog and acid rain. The New York State Renewable Portfolio Standard also helps improve energy security in New York, as the New York State Renewable Portfolio Standard helps to create in-state renewable energy for use and decreases the need to transport energy from out-of-state.
The New York State Renewable Portfolio Standard doesn’t only help the environment, but it helps New Yorkers to pay less in energy bills every month. As the New York State Renewable Portfolio Standard helps to cultivate in-state renewable energy, there is no need for the electricity to be as expensive as it doesn’t need to be transported from out of state – helping to reduce utility bills for residents. Ultimately, the New York State Renewable Portfolio Standard is beneficial for both the environment and the livelihood of New Yorkers.
What encouraged the development of the New York State Renewable Portfolio Standard?
New York has always been a state to demonstrate their utmost commitment to climate change reform, such as with their new New York State Climate Action Scoping Plan and NYSERDA, otherwise known as the New York State Energy Research and Development Authority. Following the closing of the New York State Energy Office, NYSERDA found themselves in charge of new environmental matters such as improving the implementation of energy efficiency across the state. New York was then compelled to draft their Energy Efficiency Portfolio Standard in 2008 to incentivize New Yorkers to reduce their electrical consumption, in addition to the development of the Regional Greenhouse Gas Initiative, otherwise known
However, these events were all just built up to the development of the New York State Renewable Portfolio Standard. RPS wasn’t developed until 2014, when NY Green Bank implemented a goal within NYSERDA to grow private investments in renewable energy. The previous Governor of New York, Governor Cuomo, continued to express his interest in conveying New York’s values on employing renewable energy with his Reforming the Energy Vision, or REV, program. From 2015 onwards, the New York Renewable Portfolio Standard served as a viable resource for all of the other energy and emission reduction programs taking place across New York.
In short, RPS, or the New York Renewable Portfolio Standard, was created in order to help support the several other energy and emission reduction programs being implemented in New York State – especially during the early to mid 2010s.
What are some examples of renewable energy programs affiliated with the New York State Renewable Portfolio Standard?
Seeing as the New York State Renewable Portfolio Standard is designated to financially support other energy and emission reduction programs across the state of New York – it would make sense to mention a few of the programs that seek the financial support of RPS the most.
For instance, NYSERDA, otherwise known as the New York State Energy Research and Development Authority, serves as one of the most pivotal renewable energy programs in New York. This is because NYSERDA works to improve both economic growth and reduce greenhouse gas emissions at the same time. NYSERDA also works to help make electricity and energy as a whole more affordable for New Yorkers by striving to reduce their utility bills. Thirteen board members are responsible for the organization of NYSERDA, where two members are directed as the Commissioner of the Department of Environmental Conservation as well as the Commissioner of the Department of Transportation. The other members of NYSERDA are chosen by the Governor. The program is mostly funded through the use of System Benefits Charges.
A second important renewable energy program in New York is the Department of Public Service. The main goal of the Department of Public Service is to filter utilities to be as safe and affordable as possible while still keeping the environment in mind. Another well known program in New York aimed at rectifying renewable energy is the New York Independent System Operator, also known as NYISO for short. NYISO is responsible for monitoring the electrical market and electricity grids across the state, with the ultimate goal being to transform the power grid in New York to a smart grid.
In addition to all of these renewable energy programs, utilities as a whole also play a role in the development of new energy efficient and renewable energy measures to be taken in New York – as New York is home to six different Investor-Owned Utilities.
Overall, these are all examples of renewable energy programs and organizations that may seek the assistance of the New York State Renewable Portfolio Standard.
Was the New York State Renewable Portfolio Standard successful?
The success of the New York State Renewable Portfolio Standard can be deemed as insufficient by many given the RPS was eventually replaced with the Clean Energy Standard, but the New York State Renewable Portfolio Standard was indeed successful in helping to encourage the use of renewable energy amongst New Yorkers.
In fact, at the beginning of 2020, the New York State Renewable Portfolio Standard encouraged a review to increase the initial goals of the RPS from its original 25% increase in the use of renewable energy to 30% by 2015. This is due to the fact that the New York State Renewable Portfolio Standard was performing at an unprecedented rate of success.
However, the New York State Renewable Portfolio Standard was met with a few challenges – such as trying to both utility-scale and distribute renewable energy efficiently. Therefore, the New York State Renewable Portfolio Standard enough to deter the continuous negative effects of climate change – other environmental measures are necessary by the state in order to fully fight against climate change.
How else has the state of New York implemented measures to reduce emissions?
The state of New York has never been more on top of their environmental game, with several new climate change legislation being passed in the most recent calendar year alone.
The Climate Leadership and Community Protection Act isn’t the first piece of environmental legislation to hit the New York governor's desk, but rather another request added onto a big pile of potential climate change regulations.
One of these environmental efforts includes the New York State Climate Action Council Scoping Plan – which would serve as an cap-and-invest program to help broaden the financial resources necessary for the state of New York to implement various emission reduction measures. The Department of Environmental Conservation and the New York State Energy Research and Development also play a big role in the development of effective emission reduction programs across the state, and ensure the safety of New Yorkers throughout these developments.
New York isn’t only concerned about reducing emissions, but they have also become aware of the impact the fashion industry has had on global warming and society – as the state has proposed legislation specifically to reduce the environmental repercussions created by the fashion industry. For instance, the Fashion Act, otherwise known as the Fashion Sustainability and Social Accountability Act – would require popular fashion brands to improve their transparency and public reporting regarding their social and environmental impacts. In addition to encouraging the fashion industry to reduce their carbon footprint, New York is concerned with fair working rights in the fashion industry – with the Fashion Workers Act theoretically helping to provide models, stylists, hair or makeup artists, and social media influencers in the industry with fair working rights.
Ultimately, the New York State Renewable Portfolio Standard helps to fund all of these various climate legislations and emission reduction programs continuously being proposed in the state of New York. If it weren’t for the success of the New York State Renewable Portfolio Standard, Cuomo may never have been able to draft or pass the Clean Energy Standard – deeming the RPS as a success from our point of view.
What about Greenly?
If reading this article on the New York State Renewable Portfolio Standard has made you interested in reducing your carbon emissions to further fight against climate change – Greenly can help you!
Greenly has an entire section dedicated to finances to help ensure that your company can find the sustainable investment right for your company. We can help you to reduce the emissions created from your portfolio without sacrificing a good financial return.
Greenly can help you make an environmental change for the better, starting with a carbon footprint assessment to know how much carbon emissions your company produces.
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