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The EPAct 179D Experts

Google Knol publishes our article entitled, “The New York Solar Doughnut: How New York State is Falling Behind”

July 20th, 2011 by Charles

New York State is falling behind its neighbors to the north, south, east, and west when it comes to solar P.V. electricity generation.  State legislatures in New Jersey, Pennsylvania, Massachusetts, and Connecticut have all taken an aggressive approach towards incentivizing solar installations atop commercial properties.  Additionally, New York’s Canadian neighbor, Ontario, is rapidly positioning itself at the center of North America’s solar industry.  Recently, there have been statewide efforts to create similar legislation in New York State, but those efforts have been forestalled by at least one year.  To date, the only major successes in New York have come locally, for instance in Mayor Bloomberg’s PlaNYC, which establishes ambitious targets for the total number of solar panels installed in New York City.

In the United States the three economic incentives that justify a solar P.V. project are: 1) energy savings; 2) federal tax savings; and 3) local incentives, which may take the form of Renewable Energy Certificates (REC’s), state tax incentives, and local utility incentives or some mixture thereof.   All three major incentives are needed to provide an acceptable economic return. Since New York has very high electric rates and the federal incentives are the same for everyone, New York could support better-than-average economic returns from solar merely by having a comparable Solar Renewable Energy Certificate (S-REC) system to, say, the New Jersey system.     

Solar P.V. installation and maintenance are extremely important means of creating jobs.  Solar energy also helps to promote energy independence and reliable energy distribution. For both of these reasons, it is to New York’s advantage that the state legislature creates comprehensive solar-incentivizing legislation.  As the federal tax incentives related to solar have an expiration date, it is important for the New York state legislature to act now. Read on here…

 

 

 

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