For co-op and condo boards scrambling to cut their buildings' carbon emissions enough to comply with the looming requirements of the Climate Mobilization Act, good news keeps blowing in.
The state has launched its third round of solicitation for offshore wind projects that would generate enough renewable energy to power 1.5 million New York homes, a critical step toward the state’s clean energy goals, Crain's reports. The effort seeks to procure at least 2,000 megawatts of renewable energy, and it marks the first phase of a $500 million investment in offshore wind ports, manufacturing and supply chain infrastructure that state lawmakers approved in April.
"We are putting words into action and making it clear that New York state is the national hub of the offshore wind industry,” Gov. Kathy Hochul said in a statement.
New York has five offshore projects in development, what state officials say is the largest portfolio in the U.S. That infrastructure is expected to produce 4,300 megawatts and power more than 2.4 million New York homes, according to the New York State Energy Research and Development Authority, with a projected economic impact of $12.1 billion to New York through construction and jobs.
Environmental advocates say the state’s pace of offshore wind investment is a bright spot in the winding journey to fully decarbonizing the state’s grid by 2040. That's good news for co-op and condo boards that are hoping to ditch their fossil-fuel burning infrastructure and replace it with electric fixtures such as heat pumps. The surge in development of renewable sources to power the electric grid — primarily wind, solar and hydroelectric — will be a key requirement as boards strive to reduce their carbon emissions and avoid stiff fines that will kick in at the end of 2024.
New offshore wind projects move the state closer to achieving the 2019 Climate Leadership and Community Protection Act goal of securing 70% of the state’s electricity from renewable sources by 2030. Hitting the state’s target of producing 9,000 megawatts of offshore wind by 2035 would power approximately 30% of the state’s electricity needs—a goal New York is on track to meet early and potentially exceed. Blow, wind, blow.
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