Outdated data, inadequate planning harming New York's clean energy transition, NY Comptroller says
July 17 (Reuters) -Inadequate planning and lack of proper assessment of risks have hampered the Public Service Commission's efforts to help New York State hit its clean energy targets, according to an audit released by State Comptroller Thomas DiNapoli's office.
The Public Service Commission (PSC) and the New York State Energy Research and Development Authority, tasked with implementing provisions of the Climate Leadership and Community Protection Act, have taken considerable steps but must take stronger action to meet the state's clean energy goals, the report said.
WHY IT'S IMPORTANT
The Climate Act aims for all power in the state to come from clean sources by 2040, including 70% from renewable energy by 2030. Additionally, the PSC is required to establish a renewable energy program and review it every two years.
CONTEXT
The PSC used outdated data and often times incorrect calculations for planning purposes, did not account for potential risks nor develop a backup plan if goals were not met within prescribed timeframes, according to the report.
Cancellations of renewable energy projects have also slowed progress, the report said, adding that as of April last year, 28 of 230 large-scale renewable projects were canceled from 2005 to 2023.
PSC also did not reasonably estimate the costs of transition to renewable energy or identify alternate funding sources, as per the report.
PSC disagreed with some of the audit's key findings, including that it has used outdated data or made miscalculations in its planning.
KEY QUOTE
"New York is moving in the right direction to transition to renewable energy, but we found better planning, monitoring of progress and timely assessment of risks by PSC is needed to achieve our ambitious clean energy goals," DiNapoli said.
Reporting by Tanay Dhumal in Bengaluru
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