A New Framework for New York State Renewable Energy Subsidies

In comments submitted to the New York Public Service Commission (PSC), Guarini Center Distinguished Senior Fellow and NYU Law alumnus Paul Francis articulates a vision for the Clean Energy Fund that is currently under consideration by the PSC. The Clean Energy Fund would consolidate all existing New York State programs that currently govern the spending of more than $1 billion of ratepayer-funded subsidies each year for renewable energy and energy efficiency initiatives. Francis recommends that the PSC establish a targeted reduction in the amount of greenhouse gas emissions, and base the level of ratepayer subsidies raised for Clean Energy Fund over time on the achievement of this targeted reduction. Francis proposes the use of a “State Subsidy Productivity Calculator” to compare the effectiveness of diverse policies and subsidy programs in achieving the paramount goal of a targeted reduction in greenhouse gas emissions.