NY Green Bank Commitments Exceed $900 Million, Driving $2.4 Billion in Clean Energy Investments

The NY Green Bank’s fourth quarter of 2019 was the strongest to date, adding nearly $118 million to its portfolio, according to a Feb. 14 announcement. With portfolio commitments exceeding $909 million, the bank has spurred $2.4 billion in clean energy investments. The bank was established in 2013 to alleviate market barriers, motivating private sector…

EnerKnol’s Visual Primer – New Jersey Pursues Bold Strategies to Advance Decarbonization

New Jersey is making strides to accelerate the transition to a clean energy economy. Among recent actions, the state released a comprehensive plan for economy-wide decarbonization, enacted a law to boost electric vehicle use targeting 2 million EVs on the road by 2035, and doubled the offshore wind power goal to 7.5 gigawatts by 2035.

U.S. Court Orders EPA to Review Biofuel Waivers Granted to Refineries Under Renewable Fuel Standard

The U.S. Court of Appeals for the Tenth Circuit on Jan. 24 vacated three orders issued by the Environmental Protection Agency in 2017 granting extensions of small refinery exemptions under the Renewable Fuel Standard, or RFS, program. The court ruled that the agency cannot allow extensions of exemptions that had lapsed, noting that none of…

Ohio Solar REC Prices Slumped As Much As 25 Percent in 2018: Report

The compliance obligations under Ohio’s renewable portfolio standard continue to shift from electric distribution companies to competitive retail suppliers, who were responsible for 78 percent of the requirements, up from 77 percent in the prior year, according to a Nov. 13 draft annual report by the Ohio Public Utilities Commission staff. Electric distribution utilities accounted…

Virginia Regulator Approves New Rates for Dominion Customers to Purchase Renewable Energy Certificates

The Virginia State Corporation Commission on Oct. 31 approved Virginia Electric and Power Company’s rate option that allows customers to voluntarily buy renewable energy certificates, or RECs, sourced from a broad range of generation facilities to match all or a portion of their usage. The company proposed to offer the new rate, called “Rider REC,”…

New York Finalizes Largest Offshore Wind Deal for 1.7 Gigawatts

The New York State Energy Research and Development Authority executed 25-year contracts with Equinor Wind US LLC and Sunrise Wind LLC for nearly 1.7 gigawatts of offshore wind at an average all-in development cost of $83.36 per megawatt-hour in 2018 prices, according to an Oct. 23 announcement. The agency also released a report on the…

Illinois Power Agency Revises Renewable Procurement Plan for Ameren, ComEd, MidAmerican Energy

The Illinois Power Agency proposed revisions to its long-term renewable procurement plan, covering the agency’s potential procurements and programs for 2020 and 2021 for Ameren Illinois Company, Commonwealth Edison Company, and MidAmerican Energy Company, according to an Oct. 21 filing with the Illinois Commerce Commission. For the 2020-2021 delivery year, the overall number of renewable…

Indexing REC Pricing Against Market Prices Will Lower Costs of Renewable Projects: Clean Energy Groups

Directing future Tier 1 renewable energy credit, or REC, procurements under New York’s Clean Energy Standard to include pricing that is indexed against wholesale market prices will result in lower and less volatile costs to consumers, according to an Oct. 2 filing by the American Wind Energy Association,  Alliance for Clean Energy New York, and…

Illinois Commission Rejects Investigation of Solar Lottery Program

The Illinois Commerce Commission denied a request by solar developer Sunrise Energy Ventures LLC to investigate the Illinois Power Agency’s Adjustable Block Program lottery conducted in April to select projects for renewable energy credit, or REC, contracts, according to an Oct. 2 order.  The commission found that the lottery is within the discretion granted to…

California Enacts Law Reinforcing Authority Over Electricity Procurement

Democratic Governor Gavin Newsom signed legislation on Oct. 2 directing the Public Utilities Commission to review each retail seller’s annual renewable portfolio standard compliance report and notify a seller if it may be at risk of not satisfying the requirement. The law requires the commission to ensure that load-serving entities carry out their integrated resource…

New Jersey Regulator Unveils Method to Determine Progress Toward Milestone for Solar Program Phase-Out

The New Jersey Board of Public Utilities on Aug. 8 proposed to amend the registration process for the Solar Renewable Energy Certificate, or SREC, program by including a step to determine when electricity sales from distributed solar reaches 5.1 percent, the threshold set by legislation enacted last year to phase out the program. The law…

Ohio Enacts Bill to Subsidize Nuclear, Scale Back Renewable Standard

Ohio state lawmakers approved legislation on July 23 requiring electric customers to pay new monthly surcharges from 2021 through 2027 to raise $150 million per year to subsidize FirstEnergy Solutions Corp.’s ailing nuclear plants. Governor Mike DeWine, a Republican, signed the bill into law, making Ohio the fifth state in the nation to prop up…