State Economy
The population of the “Empire State,” New York is approximately 20.45 million people[1]. New York is the 4th most populated state in the United States.
In 2022, New York’s economy was ranked 3rd in the United States in gross domestic product (GDP)[2]. The state’s economy is dependent on the financial services, manufacturing, retail trade, media, entertainment, tourism, and agriculture, industries[3].
Environmental Policies
In 2004, New York[4] enacted a Renewable Portfolio Standard, which mandated all utilities sell 50% of their electricity from renewable energy by 2040.
In 2005, New York joined Connecticut, Delaware, Maine, New Hampshire, New Jersey, and Vermont in the Regional Greenhouse Gas Initiative[5], a market-based collaborative to reduce greenhouse gas emissions.
In 2019, New York increased the Renewable Portfolio Standard for the sale of renewable energy from 50% to 70% by 2030. The state further mandated that 100% of all electricity generation have zero-emissions by 2040.
Power Generation Capabilities
In October 2022, utilities[6] used natural gas (47.4 %), renewable energy (30.0 %), and nuclear (22.6 %) to generate electricity in New York. Hydropower, wind, and solar are the primary types of renewable energy used to generate electricity in New York.
In October 2022, the average cost of residential electricity in New York state was 23.29 ¢ per kWh, compared to the national average of 16.09 ¢ per kWh.
Recent renewable energy projects in New York include:
- 816 MW Offshore Wind Farm – Norwegian energy company, Equinor is continuing work on the Empire Wind project, which is located approximately 20 miles south of Long Island. The project is forecasted to be commissioned in 2026.
- 500 MW Solar Project – Illinois solar company, Hecate Energy is continuing work on the Cider Solar project at a site approximately 30 miles northeast of the city of Buffalo. The project is forecast to be commissioned by year-end 2023.
- 350 MW Solar + 20 MW Energy Storage – French utility, EDF is continuing work on the Columbia Solar Energy Center at a site approximately 60 miles northwest of the state capital, Albany. The project is forecasted to be commissioned by year-end 2025.
- 350 MW Solar + 20 MW Energy Storage – EDF is continuing work on the Ridge View Solar Energy Center at a site approximately 20 miles northeast of Buffalo. The project is forecasted to be commissioned by year-end 2025.
- 240 MW Solar + 20 MW Energy Storage – EDF is continuing work on the Rich Road Solar Energy Center at a site approximately 160 miles northwest of Albany. The project is forecasted to be commissioned by year-end 2025.
- 200 MW Solar + Energy Storage Project – Florida utility, NextEra Energy is continuing work on the Garnet Energy Center, which will be located at a site approximately 125 miles east of Buffalo. The project is forecasted to be commissioned in 2023.
- 160 MW Solar Project – New Jersey company, CS Energy is continuing work on the Yellow Barn Solar project at a site approximately 100 miles west of Albany. The project is forecast to be commissioned in 2025.
- 147 MW Onshore Wind Project – New York renewable energy company, Terra-Gen is continuing work on the Prattsburgh Wind Farm project, which is located approximately 200 miles west of Albany. The project is forecast to be commissioned by year-end 2023.
- 132 MW Offshore Wind Project – Danish power company, Ørsted and Massachusetts power company, Eversource are continuing work on the South Fork Wind offshore wind project at a site approximately 30 miles east of Long Island, New York. The project is scheduled to be commissioned by year-end 2023.
- 119 Solar Project – EDF is continuing work on the Tracy Solar project at a site approximately 100 miles northeast of Buffalo. The project is forecasted to be commissioned in 2025.
- 100 MW Solar + 20 MW Energy Storage Project – Virginia company, AES Corporation is continuing work on the Riverside Solar project at a site approximately 100 miles northeast of Buffalo. The project is forecasted to be commissioned in 2025.
- 100 MW Energy Storage Project – New York utility, Consolidated Edison is continuing work on the East River Energy Storage System, which will be located in New York City. The project is scheduled to be commissioned by January 1, 2023.
- 90 MW Solar Project – CS Energy is continuing work on the York Run Solar project at a site approximately 50 miles southwest of Buffalo. The project is forecast to be commissioned in 2025.
- 34 MW Solar Projects – New York company, Ecogy Energy is continuing work on the development of over one hundred community solar projects across the state.
- 20 MW Solar Project – Canadian renewable energy company, Boralex is continuing work on the West River Solar project, which is located at a site approximately 40 miles north of the state capital, Albany. The project is scheduled to be commissioned by year-end 2022.
- 20 MW Solar Project – Boralex is continuing work on the Bald Mountain Solar project, which is located in New York City. The project is scheduled to be commissioned by year-end 2023.
- 20 MW Solar Project – Pennsylvania solar company, SunEast Development is continuing work on the SunEast Hilltop Solar project, which is located at a site approximately 20 miles north-northeast of Albany. The project is forecast to be commissioned by year-end 2023.
- High Voltage Transmission Line – The New York Power authority is continuing work rebuilding the 86 mile Moses-Adirondack high voltage transmission line., which is critical for the development of future renewable projects in center of the state. The project is scheduled to be completed by year-end 2023.
Conclusions
In 2005, 14.0% of New York’s electricity was generated from coal-fueled power plants[7]. In March 2020, New York closed its last coal-fired power plant!
In October 2022, 52.6% of New York’s electricity was generated from carbon-free power sources (renewables and nuclear power). The boom in renewable energy projects will allow the Empire State to achieve its goal of generating 100% carbon-free electricity by 2040.
Jack Kerfoot
Website – “Our Energy Conundrum”
<www.jackkerfoot.com
Jack Kerfoot is a scientist, energy expert, and author of the book FUELING AMERICA, An Insider’s Journey and articles for The Hill, one of the largest independent political news sites in the United States. He has been interviewed on over 100 radio and television stations from New York City to Los Angeles on numerous energy related topics.
[1] New York 2022 Population – Worldpopulationreview.com
[2] U.S. Department of Commerce, Bureau of Economic Analysis
[3] Biggest Industries in New York – World Atlas
[4] National Conference of State Legislators – State Renewable Portfolio Standards and Goals, August 13, 2021
[5] Center for Climate and Energy Solutions – Regional Greenhouse Gas Initiative (RGGI)
[6] U.S. Energy Information Agency – New York State Profile and Energy Estimates, www.eia.gov
[7] U.S. Energy Information Agency, New York Electric Power Consumption Estimates 1960 – 2018