New York State Public Service Commission has approved a Clean Energy Standard that stipulates 50% of the US state’s electricity to be derived from renewable energy sources by 2030.
The standard is aimed at fighting climate change, reducing harmful air pollution, and ensuring a diverse and reliable energy supply.
Initially, the state's utilities and other energy suppliers will be required to source renewable power that accounts for 26.31% of the state's total electricity load in 2017 and increase it to 30.54% in 2021.
The Clean Energy Standard is expected to cost less than $2 a month to the average residential customer’s bill.
New York Governor Andrew M. Cuomo said: “"New York has taken bold action to become a national leader in the clean energy economy and is taking concrete, cost-effective steps today to safeguard this state’s environment for decades to come.
"This Clean Energy Standard shows you can generate the power necessary for supporting the modern economy while combatting climate change. Make no mistake, this is a very real threat that continues to grow by the day and I urge all other states to join us in this fight for our very future."
The 50% renewable mandate will help the state in reducing greenhouse gas emissions by 40% by 2030 compared to 1990 levels and by 80% by 2050.
Under the new standard, the utilities and other energy suppliers will also be required to achieve a targeted number of renewable energy credits annually.
The credit will be used to finance new renewable energy projects that will be added to the electric grid.
New York Public Service Commission Chair Audrey Zibelman said: “It is a crucial addition to the Commission’s actions under Reforming the Energy Vision to integrate clean energy into the fabric of a modern, efficient and secure power system. New York is now on its way to '50 by 30' and even more renewable power will be within our reach."