New York eyes 50 percent renewable power by 2030
The government of New York has announced a “comprehensive and ambitious” plan to acquire 50 percent of the state’s electricity from renewable sources by 2030.
The New York State Public Service Commission approved the new Clean Energy Standard yesterday. In the initial phase of the plan, energy suppliers will have to source and phase-in renewable resources to make up 26.31 percent of the state’s electricity load by next year. By 2021, 30.54 percent of the electricity used statewide must be generated from clean sources.
The Standard also includes incentives, under which utilities will pay nearly $1 billion over two years, to keep struggling upstate nuclear plants running. According to New York Governor Andrew Cuomo, abruptly closing the state’s nuclear plants would result in an emissions spike of 31 metric tons in the next two years.
"New York has taken bold action to become a national leader in the clean energy economy and is taking concrete, cost-effective steps today to safeguard this state’s environment for decades to come," said Cuomo.
"This Clean Energy Standard shows you can generate the power necessary for supporting the modern economy while combating climate change. Make no mistake, this is a very real threat that continues to grow by the day and I urge all other states to join us in this fight for our very future."
Under the Standard, utilities and other energy suppliers will be required to obtain a number of ‘renewable energy credits’ each year. These credits are then paid to renewable developers to help finance clean energy schemes.
The state of New York is also targeting a 40 percent reduction in greenhouse gas emissions from 1990 levels by 2030.
Public Service Commission Chair Audrey Zibelman said: "Through the Clean Energy Standard, New York will be attracting billions of dollars in private investment for new renewable power supplies, developing new jobs and new green choices for consumers.
“CES adoption will bring numerous benefits to consumers, including a reduction in carbon and other harmful pollutants, and continued maintenance of fuel diversity.”
Drax advances biomass strategy with Pinnacle acquisition
The Group’s enlarged supply chain will have access to 4.9 million tonnes of operational capacity from 2022. Of this total, 2.9 million tonnes are available for Drax’s self-supply requirements in 2022, which will rise to 3.4 million tonnes in 2027.
The £424 million acquisition of the Canadian biomass pellet producer supports Drax' ambition to be carbon negative by 2030, using bioenergy with carbon capture and storage (BECCS) and will make a "significant contribution" in the UK cutting emissions by 78% by 2035 (click here).
This summer Drax will undertake maintenance on its CfD(2) biomass unit, including a high-pressure turbine upgrade to reduce maintenance costs and improve thermal efficiency, contributing to lower generation costs for Drax Power Station.
In March, Drax secured Capacity Market agreements for its hydro and pumped storage assets worth around £10 million for delivery October 2024-September 2025.
The limitations on BECCS are not technology but supply, with every gigatonne of CO2 stored per year requiring approximately 30-40 million hectares of BECCS feedstock, according to the Global CCS Institute. Nonetheless, BECCS should be seen as an essential complement to the required, wide-scale deployment of CCS to meet climate change targets, it concludes.