NEW YORK (April 2, 2020) – Under Governor Cuomo’s leadership, the New York State Legislature has agreed to a fiscal year 2021 budget that includes a major provision to boost clean energy and get the state’s economy on track for recovery.
The inclusion of the Accelerated Renewable Energy Growth & Community Benefit Act will help clean energy developers, manufacturers, technicians, and construction, installation and distribution workers get back to work and expand after the COVID-19 crisis.
The legislation creates a new Office of Renewable Energy Permitting to eliminate barriers that have stalled the 12.6 million megawatt hours of large-scale renewable energy projects currently ready to be built, while still ensuring rigorous environmental standards for their building and operations. By breaking this logjam and easing the backlog of clean energy projects, New York will encourage additional private sector investment that can meet consumer demand for clean, sustainable energy.
Suzanne Hunt, an E2 member and clean energy technology consultant based in New York said:
“This reform shows real leadership in a time of crisis – when New Yorkers are acutely aware that the health of each person is inextricably linked to the choices that we make individually and as a society.
“This will enable renewable energy projects that will contribute to cleaner air and water and thus better health for New Yorkers. By unlocking the backlog of renewable energy projects, this will facilitate large-scale investment into New York State and will help solidify New York’s leadership in the transition to greater climate and energy security.”
Environmental Entrepreneurs (E2) is a national, nonpartisan group of business leaders, investors, and professionals from every sector of the economy who advocate for smart policies that are good for the economy and good for the environment. Our members have founded or funded more than 2,500 companies, created more than 600,000 jobs, and manage more than $100 billion in venture and private equity capital. For more information, see www.e2.org or follow us on Twitter at @e2org.