New solar roadmap adds more capacity to the existing NY-Sun program
In February, we wrote about going solar in New York and the potential impacts of the Distributed Solar Roadmap proposed by New York State Energy Research and Development Authority (NYSERDA). On April 14, 2022, showing climate leadership, Governor Kathy Hochul announced the approved roadmap. The roadmap will support the state’s Climate Act, which mandates 70% of the state’s electricity will come from renewables by 2030. Outlined goals will be met by expanding the existing NY-Sun program.
As a commercial property or landowner who is thinking about going solar, the extension of the NY-Sun program is a tremendous benefit to you. Economic benefits will help your roof or land look more enticing for developers to lease for community solar projects. Or, if you choose a solar Power Purchase Agreement (PPA) to use the energy generated at your own property, this program can lower your energy charges.
The expanded NY-Sun program will help the state achieve at least 10GW of distributed solar by 2030. The NY-Sun program provides incentives spurring solar development, along with amplifying economic and job growth in the State of New York. State investment into the NY-Sun program is expected to spur approximately $4.4 billion in private investment and 6,000 additional solar jobs.
The investment by the state will increase the NY-Sun program with an additional 4.5GW of solar, enough to power 700,000 homes. At least 1.6GW of the solar capacity will benefit disadvantaged communities and low-to-moderate income New Yorkers.
The program targets distributed solar, defined as solar arrays under 5MW. This includes most commercial solar projects.
If you would like to learn more about community solar or solar PPAs, Infiniti Energy’s Director of Finance, Joseph Henry speaks about both in these two videos – community solar and solar PPAs.
Of course, with any program, there are always items to consider. Not all areas of New York treat solar equally. In some areas of the state, there is no interconnection capacity to allow for solar. Some areas have strict land use requirements or restrictive permitting discouraging solar.
Infiniti Energy is here to help navigate these questions, giving you answers and options that are most advantageous to you.
We have developed a map of the state that, as of April 2022, will give you a broad indication of how quickly the program allotments in certain areas of the state will fill. This map is indicative. Contact our team to discuss specifics regarding your commercial property.
There has never been a better time for commercial property owners to go solar in New York. But the time to act is now. The NY-Sun program is based on reaching a specific solar goal. The previous capacity allotment filled two years ahead of schedule. Getting approval for your solar projects to benefit from the program means starting now. While 4.5GW may seem like a large number, pent up demand from the end of the previous NY-Sun program will fill that fast.
Our team is here to help. Reach out with questions or to discuss how you can take your commercial properties solar.