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Energy Update, January 22

March 28, 2016

In the States

NY – Governor Andrew Cuomo announced the state plans to spend at least $5 billion over the next ten years  through a Clean Energy Fund established to reduce carbon dioxide emissions, to increase energy efficiency, and to promote renewable energy projects and infrastructure. The Governor’s plan, which was proposed several years ago, finally received approval from the state’s Public Service Commission. The Clean Energy Fund, according to the Governor, will help the state achieve its latest goal of generating 50% of its electricity from renewable sources by 2030 and will be managed by the state’s Energy Research and Development Authority. Approximately $1 billion of the Fund will be appropriated to solar energy projects while nearly $800 million will go to the New York Green Bank, a state-run lending program for clean energy projects. “We are raising the bar when it comes to increasing the use of renewable energy and reducing harmful carbon emissions,” said Governor Cuomo, “And I am proud that the Empire State is continuing to set the example for the future." New York Governor unveils $5B Clean Energy FundFortune

SC – Governor Nikki Haley announced that Cypress Creek Renewables, which specializes in long-term solar energy projects, will expand its operations and invest at least $12 million in South Carolina. Cypress Creek Renewables, which is based in California, is planning to build two solar power facilities in Saluda County – one nine-megawatt and one four-megawatt solar power station, or enough power to supply electricity to approximately 2,800 homes. The latest investment follows an earlier announcement by Cypress last year to invest nearly $70 million in six solar energy projects in Hampton County. All of these projects, which are expected to create hundreds of jobs, are slated to be operational by the end of 2016. “Team South Carolina’s approach to providing a business-friendly environment for all types of companies continues to pay off, and Cypress Creek’s investment in Saluda County is a testament to that,” said Governor Haley. “We look forward to seeing the impact that the renewable energy industry will have in Saluda, and across the state.” Cypress Creek Renewables establishes solar power operations in Saluda CountyThe Times and Democrat and Cypress Creek Renewables establishes solar power operations -- SGA

VA – Two state legislators, Senator Donald McEachin (D) of Henrico and Delegate Ronald Villanueva (R) of Virginia Beach, introduced legislation requiring the commonwealth’s participation in the Regional Greenhouse Gas Initiative (RGGI), a regional cap-and-trade program and cooperative effort between nine northeastern states. The bill, according to its sponsors, would “generate $250 million in new state revenue if Virginia [became] the 10th state to join RGGI, which counts Connecticut, Delaware, Maine, Maryland, Massachusetts, New Hampshire, New York, Rhode Island, and Vermont as members. The legislation also allows the state to create its own cap-and-trade program for carbon dioxide emissions. Additionally, the bill aims to direct any new state revenue received as part of Virginia joining RGGI to helping coastal communities and to energy efficiency projects. “Trying to do the right thing by the environment is not a Democratic issue; it’s not a Republican issue. It’s something we should all be concerned about,” Senator McEachin said. Lawmakers push for a cap and trade energy law with a focus on conservationThe Richmond Times-Dispatch

Federal and Regional

Following a unanimous vote from its bipartisan 22-member governors, the Governors’ Wind Energy Coalition has changed its name to the Governors’ Wind and Solar Energy Coalition (GWSC). The group plans to broaden its agenda to include solar energy issues and advocacy, which has included support for long-term extensions of federal renewable energy production and investment tax credits. The new group’s leadership, which was recently selected for 2016, will remain in place with Iowa Governor Terry Branstad as chair and Rhode Island Governor Gina Raimondo as vice chair. “The addition of solar to the Coalition’s portfolio,” said Governor Branstad, “represents a commitments to future economic and renewable energy growth, and further diversification of our nation’s energy portfolio.” Governor Raimondo added, “I support the foresight of my colleagues to broaden the Coalition’s focus and include solar energy development as a policy priority. Wind and solar provide complementary benefits to the U.S. electric grid and will help diversify the country’s energy mix.” According to SNL Energy, wind and solar energy accounted for 61% of all new generation capacity in 2015. Governors’ coalition teams up with wind energy and solar power to advance renewable energy across U.S.REVE

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