The New York State Public Service Commission has approved new electric heat pump targets for utilities to reduce energy consumption in the state.
The new targets will bring nearly $2 billion in investments to help transform the way New York residents and businesses heat and cool their homes and offices. Heat pumps reduce energy use and save consumers money on their energy bills.
The state is now investing over $6.8 billion in energy efficiency and clean heat investments from 2020 through 2025. This supports New York’s Green New Deal strategy and mandate to reduce greenhouse gas emissions throughout the state by 85% by 2050.
“Climate change is a real and growing threat to New York’s environment and economy and to the health of our people, and we’re already experiencing the negative impacts in the form of increased weather-related emergencies,” Governor Andrew Cuomo said. “This historic investment shows we are aggressively pursuing clean energy alternatives to reduce our reliance on fossil fuels, growing jobs in clean energy industries, and protecting our environment for current and future generations.”
The commission directed the New York State Energy Research and Development Authority (NYSERDA) to work with New York’s electric utilities to develop a statewide heat pump program framework to be administered by the utilities in their service territories. They will set a minimum target of 4.9 TJ (equivalent to 4.6 TBtu or 1.3 TWh) for savings from heat pump installations across the state.
“Today’s commitment to dramatically reduce energy consumption and scale up energy efficiency initiatives at an unprecedented pace is more evidence of Governor Cuomo’s unmatched climate leadership and reinforces his commitment to making affordable clean energy solutions available to as many New Yorkers as possible,” NYSERDA President and CEO Alicia Barton said. “The NYSERDA initiatives being announced today will help dramatically accelerate our progress in scaling up new, cleaner alternatives for residents and businesses to heat and cool their homes and facilities, and will help ensure energy affordability for Low-and-Moderate Income customers who want healthy, efficient solutions for their homes.”