The American Council On Renewable Energy Commends New York State for its 50% Renewable Portfolio Standard Increase

State Public Service Commission approves measure to procure half of New York’s power from renewable energy resources by 2030.

Washington, D.C. – The American Council On Renewable Energy (ACORE) applauds the state of New York and the New York Public Service Commission (PSC) for its just-approved energy policy to procure 50 percent of all electricity from renewable energy resources by 2030.

“We applaud New York for its continuing leadership in promoting the transition to a renewable energy economy,” said Greg Wetstone, President and CEO of ACORE. “New York’s track record with the innovative REV program inspires confidence that the state can successfully meet its renewable energy goals, and with wind and solar costs at record-breaking lows, the goal of 50 percent by 2030 is eminently achievable.”

New York currently generates approximately 25 percent of its power from renewable sources, and in adopting a 50 percent target, the state joins a group including California, Hawaii, Vermont and Oregon for the strongest renewable portfolio standards across the nation.

Renewable energy is proving to be a strong economic driver in the U.S., spurring significant investment in electric infrastructure and offering lower electric rates for consumers. Costs have dropped by 60 percent since 2009 for wind power and 80 percent since 2009 for solar power, according to analysis from the financial firm, Lazard. And renewables support a significant number of jobs across the country, with approximately 300,000 people working in the wind and solar industries, according to the American Wind Energy Association and The Solar Foundation’s annual Solar Jobs Census.

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About ACORE:
ACORE is a national non-profit organization dedicated to advancing the renewable energy sector through market development, policy changes, and financial innovation. With a savvy staff of experts, fifteen years of experience promoting renewable energy and hundreds of member companies from across the spectrum of renewable energy technologies, consumers, and investors, ACORE is uniquely well-positioned to strategically promote the policies and financial structures essential to renewable energy growth. The organization’s annual conferences in Washington, D.C., New York and San Francisco set the industry standard in providing important venues for key leaders to meet, discuss recent developments, and hear the latest from senior government officials and seasoned experts. Additional information is available at: www.acore.org

ACORE Media Contact:
Kevin Haley, ACORE
haley@acore.org;
(202) 777-7584