With New York state leaders negotiating this month whether to include Gov. Andrew Cuomo’s proposed Green New Deal in the new state budget, SEIA and Wood Mackenzie Power & Renewables released the “2018 Solar Market Insight (SMI) Report” showing strong growth in New York’s solar market with 373 MW of new development last year. While the report shows steady growth to date, it also reveals that without further action from lawmakers, New York will fall well short of its clean energy goals outlined in Governor Cuomo’s state of the state.
New York’s annual installment ranks No. 6 nationally, a six-spot jump from 2017, but New York’s overall solar market ranks 10th in the nation, showing there is still room for improvement. New York overall jumped up one spot from 2017, generating over $4.7 billion in investments, and sustaining nearly 10,000 jobs at more than 850 companies across the state. That success underscores the potential for the governor’s proposed Green New Deal to continue accelerating the transition to a 100% clean energy economy.
Governor Cuomo has set a goal of 6 GW of solar installed by 2025. The report shows in 2018 the United States installed 10.6 GW of solar, giving New York a roadmap to reach the Governor’s solar goals. States that saw growth created favorable environments to growth by committing to solar with codified incentives and using those to signal market favorability to solar industries. New York is expected to see growth in 2019 and 2020 due to strong community actions by state regulators.
Without legislative action, New York is unlikely to reach its goal of 6 GW of distributed solar by 2025. That goal would require significantly more annual solar development. In light of Solar Market Insight Report, the Million Solar Strong New York Coalition is calling on lawmakers to double down on its commitment to climate and clean energy leadership and codify into law Governor Cuomo’s 6GW solar goal in order to drive the regulatory and market changes needed to accelerate solar growth further.
“We’re thrilled to see the fruits of New York’s solar leadership once again, which continue to give families access to lower costs and create climate solutions,” said Sean Garren, northeast senior director of Vote Solar. “But despite the positive momentum, driven in large part by Governor Cuomo opening New York’s doors to clean, affordable and reliable solar, we are still falling short of the growth we need to achieve the clean energy goals laid out by the Governor. We urge Albany lawmakers to act fast to ensure solar remains a bright spot in New York’s economy.”
“New data from the U.S. Solar Market Insight Year-in-Review shows New York is installing more solar than ever before; however, the pace of installations is still far from the rate needed to achieve Governor Cuomo’s ambitious new 6-GW solar goal,” said Sean Gallagher, VP of state affairs for SEIA. “To increase the pace of solar deployment, the New York Public Service Commission must quickly approve recommended changes to the Value of Distributed Energy Resources tariff, and the Legislature and the Governor should come together around the specifics of renewable energy legislation now pending in Albany.”
News item from Vote Solar