An independent study conducted by Synapse Energy Economics for the Community Solar Access Coalition (CCSA) finds that expanding distributed solar and energy storage in New York could save $1 billion in annual energy costs by 2035, lowering household electric bills across the state while boosting reliability during peak winter demand and reducing dependence on gas markets.
The study, titled “Sunlight in Savings: Evaluating Energy Cost Savings from Distributed Solar and Storage Additions in New York“finds that increasing distributed solar + storage capacity to 20 GW by 2035 would reduce the average residential electricity bill by $87 per year for out-of-state customers and by $46 per year across the state. This still applies to customers who do not directly participate in solar programs. The findings were released following Governor Kathy Hochul’s State of the State address yesterday, which emphasized the need to make energy more affordable despite a lack of government policy to supporting solar energy and storage.
A community solar project in New York. Castillo technique
Senate Bill S6570, or the ASAP lawcreated to accelerate the deployment of solar energy in the state, is currently under review by the Senate Environmental Conservation Committee.
“Solar energy is the cheapest form of energy to produce and a linchpin for affordability,” said Senator Pete Harckham, a sponsor of the ASAP Act. “This new study reemphasizes the continued value of renewable energy and long-term storage systems in this regard. At this point, we should exponentially increase our clean energy efforts and gigawatt targets with distributed solar projects to create thousands of green jobs and save taxpayers millions of dollars.”
According to the study, expanded distributed solar and storage would also help New York avoid about 11% of the gas used for electricity generation by 2024. More than half of the estimated cost savings would occur during the winter months, when demand on the electricity grid is greatest.
“In these uncertain times and with headwinds from the federal government, it is more important than ever for New York State to leverage and expand on our successes,” said Assemblymember Didi Barrett, chair of the Assembly Energy Committee and sponsor of the ASAP Act. “The ASAP Act is about scaling solutions that work for everyday New Yorkers – lowering electricity costs for consumers, supporting clean energy jobs and meeting our climate goals.”
The report estimates that expanded distributed solar and storage would save $947 million per year in greenhouse gas costs by 2035, due to reduced emissions from fossil fuel generation, and provide an estimated $235 million in additional direct bill savings for participating and low-income customers.
“Distributed solar and storage deliver value on multiple fronts at once: lower bills, increased reliability and reduced exposure to volatile gas markets,” said CCSA Northeast director Kate Daniel. “This study shows that smart policy choices can deliver real savings for all customers, not just those who install solar on their rooftops. The ASAP Act is an opportunity to build on New York’s leadership and scale solutions that are already working.”
New York exceeded its original distributed solar goals ahead of schedule, with more than 7.3 GW installed today and another 2.8 GW in the development pipeline. Developers and policymakers have proposed expanding the state’s goal for distributed solar to 20 GW by 2035.
“This timely report highlights the opportunity for New York to reduce electricity prices by scaling distributed deployment of solar energy and energy storage,” said Noah Ginsburg, executive director of the New York Solar Energy Industries Association. “As policymakers seek to reduce costs to ratepayers and make continued progress toward New York’s clean energy goals, they need look no further than the Accelerate Solar for Affordable Power (ASAP) Act – legislation to increase New York’s distributed solar goal and reduce red tape to ensure we can do this quickly and cost-effectively.”
News item from CCSA
