Tier 1 recs new york. strong foundation of renewable projects.
Tier 1 recs new york Through the former . PARKER -- read twice and ordered printed, and when printed to be committed to the Committee on Energy and Telecommuni- cations AN ACT in relation to maintaining the continued viability of the state's existing large-scale, renewable energy In accordance with Order Modifying Clean Energy standard Tier 1 Obligation [PDF] filed on April 20, 2023, NYSERDA will sell Tier 1 RECs to voluntary Purchasers using a hybrid approach for the voluntary sales including long-term contracting, an annual REC Presale and an annual REC Resale. It is published by the New York City Employees’ Retirement System (NYCERS), and is intended to summarize all of the Commission’s April 2022 Order approving its $129. RESRFP20-1 RFP Release Date: July 21, 2020 Revised: September 29, 2020 Step One Eligibility Applications Due: August 27, 2020 by 3:00 p. That differs from Proceeding with the Tier 1 REC program on a status quo basis is, thus, “Renewable Energy Standard Purchase of New York Tier 1 Eligible Renewable Energy Certificates Request for Proposals (RFP)” (dated January 13, 2023) (hereinafter, RESRFP22-1), available at cadence for new Tier 1 procurement to comply with the CLCPA, the of Under Tags > tier 1 recs Clear All Sort by NYSERDA 2022 Soils Data for use in the Large-Scale Renewables and NY-Sun Programs Energy & Environment. For example, if you declare Commercial Operation and start generating electricity on August 17, the Delivery Start Date will be September 1. These contracts constitute enough megawatts of new Purchase of New York Tier 4 Eligible Renewable Energy Certificates (RECs) Request for Proposals ( RFP) No. This quarter’s NYISO Renewables Watch update includes ESAI’s latest updated Tier 1 REC supply and demand outlook and assesses New York’s progress towards meeting it’s 70% by 2030 Renewable Energy requirement. The petition includes the following cost estimates: The costs of program payments for the purchase of Tier 4 RECs from the projects are projected as $5. NYSERDA's sixth annual request for proposals under the Clean Energy Standard, RESRFP22-1 [PDF] , was issued on September 21, 2022 and resulted in awards for 22 solar, wind and hydroelectric projects, to develop 2,410 megawatts of new and repowered, renewable energy capacity throughout New York State. Tier 1 REC Obligation. These sales will include 2024 Tier 1 RECs and any unpurchased Tier 1 RECs from 2022 and 2023. ET NYSERDA's fifth annual request for proposals under the Clean Energy Standard, RESRFP21-1 , was issued on April 22, 2021 and resulted in awards for 22 solar projects, including six with energy storage to develop 2,408 megawatts of new, renewable energy capacity throughout New York State. Buy with confidence and trust: NYSERDA is the largest purchaser of Tier 1 RECs, which are bought from New York-based generators and help achieve the State’s clean energy goals. INTRODUCTION. Figure 1: Establishing the Tier 4 Program. Purchase of New York Tier 1 Eligible Renewable Energy Certificates (RECs) Request for Proposals (RFP) No. Together, these facts demonstrate the success of the NY-Sun program in transforming New York’s distributed solar industry. 1 STATE OF NEW YORK PUBLIC SERVICE COMMISSION _____ Proceeding on Motion of the Commission to Implement a Large-Scale Renewable Program Case 15-E-0302 and a Clean Energy Standard. J. Covers pension, disability and death benefits. 1% (or $2. Tier 1 RECs Active Number of Tier 1 RECs in LSE’s Active Sub-Accounts. New York Generation Attribute Tracking System (NYGATS Tier 1 REC Obligation % Percentage of LSE load required to be met with Tier 1 RECs for the Compliance Year as ordered by the New York Public Service Commission. from eligible Projects , as authorized by the New York Please note that 2018 and 2019 Tier 1 RECs can be used for compliance in the 2020 compliance year. 02424 per kWh) −The social cost of carbon (SCC) per kWh value • NYGATS (New York Generation Attribute Tracking System): Used to track RECs • MTC (Market Transition Credit): An element of the value stack, available for CDG projects only They are particularly valuable when Tier 1 RECs are scarce. italiano. Renewable Portfolio Standard and NY-Sun, New York has in New York and the Attributes of the electric power used to serve that load is maintained. Eastern Time (ET) Step Two Bid Proposals Due: October 21, 2020 by 3:00 p. “We applaud the selection of the Clean Path New York project to deliver made-in-New York renewable energy to New York City. sign in. 4 Offshore Wind Standard Tier 1 RECs by Technology, 2020. Default Interconnecting-LSE-Option: Utility • NYGATS (New York Generation Attribute Tracking System): Used to track RECs • MTC (Market Transition Credit): An element of the value stack Tier 4 RECs will be sold on the voluntary market, and Local Law 97 allows RECs as a compliance option if the power is located in or sinks into NYC. For example, if you declare Commercial Operation and start generating electricity on August 17, the REC Agreement Contract Delivery Term will be September 1. We compare New York’s RES requirements with ESAI’s Projections (MWh) to assess the projected deficit. Updated : March 2 9, 2021 . The CES is designed to fight climate change, reduce harmful air pollution, and ensure a diverse and reliable low carbon the Tier-2 RECs and the underlying attributes, including but not limited to the exclusive rights to claim or represent, consistent with New York State Environmental Disclosure rules: (a) that the energy associated with Tier-2 RECs was generated by the Bid Facility; and (b) that New York Directing future Tier 1 renewable energy credit, or REC, procurements under New York’s Clean Energy Standard to include pricing that is indexed against wholesale market prices will result in lower and less volatile costs to consumers, according to an Oct. Historically, all Tier 1 RECs have been sold to LSEs to fulfill RPS Purchase of New York Tier 1 Eligible Renewable Energy Certificates (RECs) Request for Proposals (RFP) No. Electric generation, imports, and consumption in New York State are continuously recorded The NYGATS Account Holder for the project is able to sell any Tier-1 RECs pre-dating the Contract Delivery Term of its NYSERDA REC Agreement on the open market. While the upstate region in 2021 generated 91pc of its electricity with zero-emissions sources like nuclear, hydropower and wind, downstate areas depended on fossil fuels for Where any discrepancy exists between recommendations in these procedures and HUD environmental review The Tier 1 Programmatic Review will develop a template Tier 2 Statutory Checklist that • No LPA programs funded under the New York State HOME program are automatically exempt. However, they carry less environmental value compared to in-state RECs. Based upon feedback from the IOUs, some of the IOUs have significant quantities of VDER Tier 1 REC generating projects in their territories, which represent a significant ratepayer investment. Some have criticized Tier 4 as a statewide investment that primarily benefits downstate, but Tier 4 is an economic win for all of New York State. before the TED to generate electrical energy outside of both the New York Independent System Operator (NYISO) Control Area and Control Areas adjacent thereto, and that is relocated into one of said Control Areas after • The incremental production that is deemed eligible for Tier 1 RECs need not wait until an annual period has passed to be New York PSC staff rolls out new pricing scheme for REV An added benefit, staff said, is that energy sources included in its proposal are largely eligible to produce Tier 1 RECs, and the state Maryland Tier 1 RECs (also as a bankable contract) Maryland Tier 2 RECs; Maryland Solar RECs; New Jersey Solar RECs; New York Tier 1 RECs; Electric Reliability Council of Texas (“ERCOT”) Texas RECs from CRS Listed Facilities Front Half; Texas RECs from CRS Listed Facilities Back Half; The Champlain Hudson Power Express and Clean Path New York HVDC projects hold New York's two TIER 4 REC that it needed to be included in any inflation adjustments for Tier 1 RECs, as all 23 Ordering Tier 1 RECs From NYSERDA (Quarterly Tier 1 REC Sale) Provisional Eligibility Application for Upgraded Capacity; RES - Tier 1 Certification Application; the steps needed to submit an RES Project Certification Application for Operational and Provisional Projects in the New York Generation Attribute Tracking System (NYGATS). español. In the Matter of Offshore Wind Energy Case 18-E-0071 (“RECs”) from Tier 1 and Offshore Wind renewable energy generating projects. Tier 1 RECs, ZECs and Tier 2 RECs will be available for sale to LSEs during the 2022 Compliance Year, while OSW and Tier 4 RECs are not likely to materialize for several years. RES Tier 1 (LSR) procurements were further amended on January 16, 2020 by the Order Modifying Tier 1 The two approved Tier 4 projects — Clean Path New York and Champlain Hudson Power Express — are HVDC transmission lines that would deliver thousands of megawatts of solar, wind and hydro power Maryland Tier 1 RECs eligible for delivery are those which are eligible to meet the Tier 1 renewable energy requirement (as defined in the Maryland Renewable Energy Portfolio Standard promulgated under 7-701 of the Public Utilities Article of the Annotated Code of Maryland and issued by PJM GATS having a vintage year designation that corresponds to the specified Approving Phase 4 Implementation Plan (Phase 4 Order),1 the New York State Energy Research and Development Authority (NYSERDA), hereby files the ACP price for the 2023 Compliance Year. have first commenced Commercial Operation on or after January 1, 2015. 1 – 4. 08 – $4. term contracts to generators for the purchase of Tier 1-eligible RECs, in the form of Tier 1 New York Generation Attribute Tracking System (NYGATS) certificates. You can request “Non-Certified (Itemized) Detailed Earnings Information” directly from the Social Security Administration (SSA) by completing form SSA-7050-F4, however there is a . RESRFP17-1 resulted in 26 agreements to develop 1,383 MW of new, clean energy capacity throughout New York State. See, Case 15-E-0302, et al. wholesale load. 16 Figure 8. 2021 Administration Progress Update As directed by the 2020 CES Order, NYSERDA files quarterly itemized reports7 on costs associated with renewable technologies, based on Tier 1 REC eligibility rules; or (ii) non-renewable technologies that have potential . Tier 3 RECs: Offer a more cost-effective option while still contributing to renewable energy goals. RESRFP23-1 New & Notable Items Tier 1 REC agreement termination • A Proposer cannot have an active agreement with NYSERDA or another entity with respect to the Tier-1 RECs being offered in that solicitation at the time of submission of the Step One Eligibility Application. PUBLIC SERVICE COMMISSION . disposition of the Tier 1 RECs that NYSERDA procures under this new structure, such as changes to the to calculating ACPs, addressing unintentional impacts on the market for RECs imported to or exported from New York, and impacts to the Value Stack Environmental Value tariffs. 13 Figure 7. Dataset. Directed by the Execu ve Order 22 defines “Qualifying Tier” to mean any er of the New York State Public Service Commission’s Clean Energy Standard (Case 15-E-0302) (“CES”) that is designed to incen vize the delivery of addi onal, Tier 1 RECs, Tier 4 RECs, and Offshore Wind RECs • Not eligible for compliance: Other types of RECs, including 1 2020 New York State Session Laws Chapter 58, Part JJJ. Each REC is proof that energy has been The CES is a statewide initiative supported by all New York load-serving entities (LSEs), including utilities, energy service corporations, and other wholesale electricity buyers. AES supports NYSERDA’s Tier 1 Renewable Energy Credit (“Tier 1 REC”) program and has offered suggestions for improvement for both the Tier 1 and Tier 2 programs. The CES is designed to fight climate change, reduce Purchase of New York Tier 1 Eligible Renewable Energy Certificates (RECs) Request for Proposals (RFP) No. 14:8-2-3; and the Maryland requirements are Purchase of New York Tier 4 Eligible Renewable Energy Certificates(RECs) (T4RFP21-1) This solicitation is closed BEFORE YOU BID: NYSERDA requires contractors producing content intended to be published to the World Wide Web to adhere to NYSERDA's Accessibility Policy. These Tier 1 RECs will be sourced from a variety of Renewable Energy Projects located in New York State. 1 Long-Term Contracting NYGATS also serves as the platform for applying for Renewable Energy Standard (RES) certification under the New York’s Clean Energy Standard. RESRFP23-1 RFP Release Date: November 30, 2023 Step One Eligibility Applications Due: December 28, 2023, by 3:00 p. NY-Sun brings together and expands existing programs administered by NYSERDA, Long Island Power Authority (LIPA), PSEG Long Island, and the New York Power Authority (NYPA), to ensure a coordinated open ny catalog developers. Calculation of Index Invoice for Reference . CASE 20-E-0249 -2- 60 days of the effective date of the Act. Tier 1, Tier 2, and ZEC; Ordering Tier 1 RECs From NYSERDA (Quarterly Tier 1 REC Sale) Annual Settlement and EDP Labels The contracts include an index REC structure to help cushion customers against spikes in energy prices so when electricity prices rise the Tier 4 program costs go down. Summary of New York System Mix This page provides an overview of the REC Index pricing structure and inputs for calculations using data from the NYSERDA Agreement, NYISO, and NYGATS. 7 RECs are issued and exchanged in the form of Tier 1 New York Generation Attribute Tracking System (NYGATS) certificates. A. Skip Navigation To assess current conditions and future needs of the baseline renewable energy fleet and the non-Tier 1 REC market, NYSERDA launched a Request for Information (RFI) on Renewable Energy Certificates (RECs) Request for Proposals (RFP) No. For anyone interested, please see the 2025 Voluntary Sales page for more details. Tier 1 RECs are produced by generators using new renewable energy resources that entered commercial operation on or after January 1 A REC is a certificate, created by a tracking system, such as the New York Generation Attribute Tracking System (NYGATS), that represents the attributes of one megawatt hour of electricity generated from a renewable source like solar or wind. Updated: April 2 0, 2021 . Registration the Tier-2 RECs and the underlying attributes, including but not limited to the exclusive rights to claim or represent, consistent with New York State Environmental Disclosure rules:(a) that the energy associated with Tier-2 RECs was generated by the Bid Facility; and (b) that New York 2023 RES Solicitation for Tier 1 RECs. ESAI’s latest Renewables Watch They are particularly valuable when Tier 1 RECs are scarce. NYGATS will continue to be a crucial source of truth for RECs and energy data in New York State, and Cleartrace is walking hand-in-hand with NYGATS to bring the future of 24/7 decarbonization a few steps closer. NYSERDA Tier 1 Contracted REC Prices by expected Commercial Operation Year, by location (NYISO Zone) . RESRFP20-1 RFP Release Date: July 21, 2020 Step One Eligibility Applications Due: August 27, 2020 by 3:00 p. The Phase 3 Implementation Plan Order continued the 2022 RES Solicitation for Tier 1 RECs. WHEREAS, the CES Orders authorize NYSERDA to enter into the Tier 1 eligibility criteria established in the CES Framework Order. m. 6 MILLION NEW YORK TIER As demonstrated in New York’s 2019, 2020, and 2021 Divergence Tests assessing potential Tier 1 oversupply or undersupply, the state’s renewable energy programs have fallen short in delivering sufficient Tier 1 RECs to keep pace with preestablished Tier 1 targets. On September 24, 2004, following extensive stakeholder engagement, New York State’s Public Service Commission (the PSC) issued the Order Approving Renewable Portfolio Standard adopting the RPS. 71 for each Tier 1 REC. NY Tier 1 RECs are sourced from Solar, Wind, and New York is transforming its electricity sector to be powered by renewable energy. The record regarding CPNY’s requested relief, however, Ordering Tier 1 RECs From NYSERDA (Quarterly Tier 1 REC Sale) Provisional Eligibility Application for Upgraded Capacity; RES - Tier 1 Certification Application; New York Load Serving Entities should take steps to review their NYISO reported Load and Certificate Deposits before June 30 th to ensure their EDP Labels will look correct. STATE OF NEW YORK . 59 VDR38419 Upstate Door II - 17305 Solar 10/1/24 NYGATS-REC-38419-NY-10-2024-113381-1 to 3 3 Distribution Utility - Value of DER Phase 2 $31. RESRFP19-1 RFP Release Date: April 23, 2019 NYSERDA SEEKS TO ACQUIRE APPROXIMATELY 1. The Commission approved the Phase 4 Plan by Order dated 3 Case 18 -E 0071, NYSERDA’s Launching New York’s Offshore Wind Industry: Phase 1 Report (filed October 23, 2019). 9 – $11. The Petition notes that On December 28, 2022, staff of the New York State Department of Public Service (DPS) and the New York State Energy Research and Development Authority (NYSERDA) released the much-awaited New York's 6 GW Energy Storage Roadmap: Policy Options for Continued Growth in Energy Storage (Roadmap). RESRFP21-1 RFP Release Date: April 22, 2021 Step One Eligibility Applications Due: June 30, 2021 by 3:00 p. 2. CPNY will be completed in 2027 with an initial 25-year contract with NYSERDA, and the investment will provide the ability to serve New York City for 75 years. Eastern Time (ET) Step Two Bid Proposals Due: January 31, 2024, by 3:00 p. After a thorough project Purchase of New York Tier 1 Eligible Renewable Energy Certificates (RECs) Request for Proposals (RFP) No. 7 : NYISO : Project not eligible for NY REC: Given the Ohio SREC value is based on the Tier 1 REC market, the fundamental drivers supporting the price forecast are based on the total renewable energy market in Ohio, and not just the solar value. The Competitive Tier 2 Program aimed to ensure the continued operation of New York's existing renewable energy resources, including hydroelectric facilities. The state has long held that our Basic Plan information for ERS Tier 1 members under Sections 70-a, 71-a and 75. largest transmission infrastructure development in New . development. 4 billion, and the weighted average price for these contracts was $21. 6 Tier 4 Order at 44 -58; Tier 4 RECs: Are unique as they bundle RECs with investments in new transmission lines to bring renewable energy into New York City. Depending on its generation profile, New York will need thousands of megawatts of new renewable projects to meet its clean energy goals. NYSERDA was pleased to offer Tier 1 RECs Vintage 2025 in the 2025 Voluntary Tier 1 REC Pre-Sale. 6 billion, equating to an estimated increase in customer electric bills of 2. T4 RFP21-1 RFP Release Date: January 13, 2021 . français. The requested revision is Generators must obtain certification from NYSERDA to participate in RES procurements and/or produce Tier 1 RECs in NYGATS. NYSERDA purchases Tier 1 RECs from developers through a competitive Request for Proposals (RFP) process. Read More Voluntary REC Sales. However, they carry less environmental value compared to in The new approach will require utilities and other LSEs that sell electricity to consumers in New York State to purchase all Tier 1 RECs, including both the LSR and CDG RECs, made available by NYSERDA, net of any voluntary sales, in a proportion to their share of the statewide load. about press releases executive order open data program overview open data handbook dataset submission guide reports. The Tier 1 REC price could vary each quarter depending upon the volatility of the index REC payments and the number of Tier 1 RECs purchased through index REC contracts. This page also includes important 2 See Case 15‐E‐0302, Order Modifying Tier 1 Renewable Procurements (Index REC Order) (issued January 16, 2020). search. 2 24 CFR 58. C. 2 Weighted average prices for NYSERDA RPS solicitations prior to the CES are shown in Figure 4. $50 is the Alternative Compliance Payment (ACP), or fine, that energy companies in New Jersey have to pay if they do not procure enough Class 1 RECs. 6 Tier 1-eligible generators are certain defined renewable energy facilities that enter commercial operation on or after January 1, 2015. Minimum Threshold Requirements & Non- These REC Counterparties may participate in a conversion process to voluntarily modify their existing Tier 1 Renewable Energy Certificate (REC) agreements from a fixed as-bid REC price (Fixed REC) to a variable-priced Index REC pricing structure. 5 MILLION NEW YORK TIER 1 ELIGIBLE RENEWABLE ENERGY CERTIFICATES ANNUALLY The New York State Energy Research and A Tier 1 REC represents the energy production of one megawatt-hour (MWh) of generated electricity. However, the NYC Department of Buildings rulemaking process that will determine eligibility details is still in progress, so keep up with Urban Green’s future programming to gain clarity as new Pricing is structured such that, for project owners with a portfolio of 20 MW or more New England solar PV, an investment of less than 1% of potential annual revenue can arm you with information sufficient to optimize your REC VDR38413 DG New York CS, LLC (Sangerfield) - 14597 Solar 1/1/24 NYGATS-REC-38413-NY-01-2024-90522-1 to 153 153 Distribution Utility - Value of DER Phase 2 $31. At a session of the Public Service . New York’s target to produce 70% of the State’s electricity from renewable sources by 2030 (70 by 30 Target) is the guiding light for the PJM Tier 1 REC prices rise from $1. Adjusted Bid Proposal where the Index REC Strike Price or Fixed REC Price would be subject to a one-time adjustment to reflect changes to a the actual number of Tier 1 RECs in NYSERDA’s New York Generating Attributes Tracking System (NYGATS) account at the time of the sale. October 6, 2022. must produce new, incremental energy and Tier 1 RECs from new Bid Capacity above a historical baseline. help video help supported browsers catalog navigation. Eastern Time (ET) Step Two Bid Proposals Due: August 26, 2021 by 3:00 p. Tier 2 RECs: Originate from in-state renewable sources commissioned after the Tier 1 cutoff 2024 RES Solicitation for Tier 1 RECs. REC (and RPS attribute) prices are high in Renewable Energy Certificates (RECs) Request for Proposals (RFP) No. The underground HVDC power line will connect new and existing wind and solar projects in Western and Upstate New York to New York City, ensuring the power is eligible for the Tier 4 RECs. 2 filing by the American Wind Energy Association, Alliance for Clean Energy New York, and the Natural The underground HVDC power line will connect new and existing wind and solar projects in Western and Upstate New York to New York City, ensuring the power is eligible for the Tier 4 RECs. CT Class 1 REC : New York : 1 : 2. NYSERDA issued a Tier 4 solicitation in January 2021. 9. New York: 7:50 PM - 6:00 PM * 19:50 - 18:00: 7:40 PM 19:40: London: 12:50 AM - 11:00 PM * 00:50 - 23:00: 12:40 AM 00:40: Singapore: 8:50 The New York State Department of Public Service (NYSDPS) has adopted the New York State Energy Research and Development Authority (NYSERDA)'s proposal to offer an indexed REC structure in addition to the current fixed REC Before the Clean Energy Standard, New York State operated under the Renewable Portfolio Standard (RPS). The CES/RES Orders can be accessed from the . York State in the last 50 years. If any of the answers are “no,” the application may NYSLRS Post author June 12, 2017 at 2:12 pm. The agreements will also support the development of 159 megawatts of utility-scale New York currently has more than 120 renewable energy and transmission projects in active development or construction, including large-scale solar, land- Clean Energy Standard (CES) Tier 1 RECs 796,656 N/A 1,677,274 N/A CES Tier 2 Renewable Energy Credits (RECs) 13,732 N/A 32,409 N/A CES Tier 3 Zero Emission Credits(ZECs) 26,808,001 N/A NYSERDA’s policy regarding the treatment of renewable energy attributes, credits and claims associated with renewable systems for which NYSERDA has provided financial incentives under the Customer-Sited Tier and NY-Sun programs changed in March 2017 in accordance with an Order issued by the Public Service Commission. The total funding committed through RESRFP17-1 is approximately $1. Tier 1 RECs EDP Number of Tier 1 RECs in LSE’s EDP Sub-Accounts by year transferred with reason of 'RES Compliance'. 4. Competitive solicitations are open to all qualified firms. strong foundation of renewable projects. 3 See Case 15‐E‐0302, Order Authorizing Voluntary Modification of Certain Tier 1 Agreements (Voluntary Conversion Table 1 - Overview of Tier 1 Procurement Results. The Commission authorized the New York State Energy Research and Development Authority (NYSERDA) to act as the central Once the SoQ has been issued, Seller and NYSERDA will coordinate with NYGATS to accept the generation for Tier 1 REC creation. For example, imagine a new clean energy project is built in the southeast, where a lot of coal is being burned to produce energy. NYSERDA has Tier 1 Renewable Energy Certificates (RECs) or making ACPs. To the extent that the Commission provides an Project, will deliver Canadian hydropower directly to New York City. If approved by the NYPSC, Execu ve Order 22 defines “Qualifying Tier” to mean any er of the New York State Public Service Commission’s Clean Energy Standard (Case 15-E-0302) (“CES”) that is designed to incen vize the delivery of addi onal, Tier 1 RECs, Tier 4 RECs, and Offshore Wind RECs • Not eligible for compliance: Other types of RECs, including Learn how organizations can leverage Tier 1 RECs to support their sustainability goals and renewable energy development in New York. A. To meet Renewable Energy Standard (RES) obligations, generators/developers may be eligible to generate Tier 1 renewable energy credits (RECs) in the New York Generation Attribute At the end of every quarter, NYSERDA will announce a sale of Tier 1 RECs. 50 in 10 years. NYSERDA procures Tier 1 RECs through a competitive solicitation Approving Phase 4 Implementation Plan (Phase 4 Order),1 the New York State Energy Research and Development Authority (NYSERDA), hereby files the ACP price for the 2024 Compliance Year. The VDER Tier 1 RECs will be counted toward the overall LSE load share obligation. New York Renewable Energy Certificates Tier 1 Vintage 2023 Future ITEM SPECIFICATION Contract Description Physically delivered Tier 1 Renewable Energy Certificates (REC) where a REC is an electronic certificate issued by the New York Generation Attribute Tracking System (NY-GATS) for generation qualifying as Tier 1 New Renewable Resources AGREEMENTS FROM A FIXED-PRICE REC TO AN INDEXED REC PRICE STRUCTURE . NYSERDA Contracted Tier 1 RECs versus Tier 1 REC Obligation. T4RFP21-21 New York State Energy Research & Development Authority May 12, 2021. AES believes that without the Tier 1 REC program or the Valuable Distributed Energy Resources (VDER) program, New York would be unable to meet In a petition filed June 14, 2023 in this docket (the “Tier 4 Petition”)1, Clean Path New York LLC (“CPNY”) requested that the New York Public Service Commission (“Commission”) adjustment mechanism that shifts the price of Tier 1 RECs upward, CPNY will need to increase its payments to Tier 1 generators in order to induce their Purchase of New York Tier 1 Eligible Renewable Energy Certificates Request for Proposals (RFP) No. This In order to count towards an LSE’s RES compliance obligation, the RECs must be tagged as eligible New York Tier 1 RECs in NYGATS. NYSERDA offers objective information and analysis, innovative programs, technical expertise, and support to help New Yorkers increase energy efficiency, save S T A T E O F N E W Y O R K _____ 7027 2021-2022 Regular Sessions I N S E N A T E May 25, 2021 _____ Introduced by Sen. While the CES Modification Order noted that ”[r]e-sales of Tier 4 RECs should be competitively priced, such that if the This approach has been implemented with the sale of Tier 1 RECs to the voluntary market starting in July 2024. New York’s nation-leading climate goals and accelerated New York Tier 1 RESRFP22-1 Proposers’ Webinar NYSERDA Large-Scale Renewables Team. The CES Order established the Compliance Year, or compliance period, as January 1 to “REC”-ORD HIGH PRICE PJM Tier 1 RECs hit an all time high, driven by interconnection queue woes, supply chain issues and higher RPS demand, but how long will the party last? New York PSC DSIRE is the most comprehensive source of information on incentives and policies that support renewables and energy efficiency in the United States. language english. The CES Order established the Compliance Year, or compliance period, as January 1 to be located within the New York Control Area (NYCA) or in an adjacent control area and supply energy into New York State. The Act became Standard Tier 1 RECs created by eligible generation resources. The platform can be used to apply for Renewable Energy Standard (RES) certification under New York’s Clean Energy Standard through their earned qualification statements, designating the RECs created by a facility as eligible for RES Tier 1 compliance. It does not have any Tier 1 component. T4 RFP21-1 (RECs) 1 from eligible Projects , as authorized by the New York State Public Service Commission’s (Commission) Order Adopting Modifications to the Clean Energy Standard, issued on October 15, 2020 in Case No. (RECs) from NYSERDA or other sources, or by making Alternative Compliance That order authorizes NYSERDA to conduct annual Tier 1 solicitations to ensure that 70% of load in 2030 is served by New York in 2020 created Tier 4 RECs, generated by projects that deliver renewable electricity into New York City, in a bid to mitigate the state's "two grids" dilemma. New York State Energy Research and Development Authority. 2 Monthly Obligation Payment would be calculated using the LSE Tier 2 Rate, the number of MWh the LSE served, using the New York Independent System Operator’s (NYISO NYSERDA Comments on Petition Regarding Integration of an Index REC Structure into Tier 1 REC Procurements [PDF] Comments: 2019-09-20: Order Approving Zero-Emissions Credit (ZEC) Implementation Plan with Modifications [PDF] Order: New York’s Clean Energy Standard (CES) is the most comprehensive and ambitious clean energy goal in the State Class I RECs eligible for delivery are those which are eligible to meet the Class I or Tier 1/I requirements in each of the states of Pennsylvania, New Jersey and Maryland where; the Pennsylvania requirements are specified in Pennsylvania Statutes Title 73 Chapter 18F; the New Jersey requirements are specified in N. THE NYSERDA 2022 SOILS DATA IS TO BE USED FOR NYSERDA’S PROCUREMENT PURPOSES OR THE NY-SUN PROGRAM AND IS NOT INTENDED TO REPRESENT ACTUAL IN SITU SOIL Figure 6. 50 to $37. The New York State Energy Research and Development Authority (NYSERDA) is soliciting responses from term contracts to generators for the purchase of Tier 1-eligible RECs, in the form of Tier 1 NYGATS certificates. Tier 4 RECs: Address the challenge of grid infrastructure limitations for delivering renewable energy to New York Purchase of New York Tier 4 Eligible Step Two Proposal (RECs) Section # Purchase of New York Tier 4 Eligible Renewable Energy Certificates (RECs) Request for Proposal No. The Clean Energy Standard establishes two tiers of eligible renewable energy generators under the Renewable Energy Standard (RES): RES Tier 1 Eligibility - New Renewables; RES Tier 2 Eligibility - Maintenance Resources. Historically, the PJM REC market has been supplied primarily by large amounts of land based wind in IL, PA, VA, and IN, and solar from several PJM states. 1. The REC Agreement’s Contract Delivery Term usually The instructions below provide guidance on obtaining a Statement of Qualification after reaching Commercial Operation for Tier 1 projects only. This Roadmap builds upon a prior roadmap New Jersey Class 1 REC Value. Skip to main content The State of New York, its officers, employees, and/or agents are not liable to you, or to third parties, for damages or losses of any kind arising out of, or in connection with, the use or current distributed solar market in New York State and found that costs and NYSERDA-provided incentives have declined over time, while a thriving solar market has created approximately 12,000 jobs in New York. NYSERDA's eighth annual solicitation under the Clean Energy Standard, RESRFP24-1, was issued on June 20, 2024, to continue accelerating progress towards the State’s Climate Leadership and Community Protection Act goal to obtain 70 percent of New York State’s electricity from renewable sources by 2030. Notices of competitive solicitations are provided to individuals, firms, and organizations through the New York State Contract Reporter, the State Register (when applicable), targeted mailings and postings to NYSERDA's Current Funding Opportunities web page. The New York State Energy Research and Development Authority (NYSERDA) seeks to procure Tier 4 eligible Renewable Energy Certificates (RECs) 1. , The Every Student Succeeds Act (ESSA) defined four tiers of evidence-based support and stipulated that districts receiving Title I, 1003 School Improvement Grants must ensure that all schools identified for additional support must include at least one evidence-based intervention that is in either Tier 1, Tier 2, or Tier 3. 1. Sample Calculations of Index Invoice. When records are unavailable, we can accept documents such as W-2 forms from your tax returns, or Social Security earnings records. 03 $4,747. . Each REC is proof that energy has been produced from CES-eligible renewable Tier 1 RECs: Represent the most valuable category, sourced from in-state renewable sources commissioned before a specific date. Tier 1 criteria are rated either “yes” or “no” and serve as a baseline by DHSES to determine if applicants are eligible and have appropriately submitted all the required application materi als. 30 business days prior to the A Tier 1 REC represents the energy production of one megawatt-hour (MWh) of generated electricity. 35(b) Categorically Excluded - subject to Tier 1 program adopted under the CES (Tier 1) and recommends changes to the Tier 1 procurement process; 3 The Commission adopted the Clean Energy Standard in furtherance of the 2015 State Energy Plan, which set a target that 50 percent of electricity used in New York by 2030 be generated from renewable sources. The REC Agreement’s Contract Delivery Term usually starts the first of the month following the project’s Commercial Operation date. RESRFP22-1 RFP Release Date: September 21, 2022 Step One Renewable Energy Credits (RECs). 29 List of Tables Table 1. 75 per megawatt-hour (“MWh”) Tier 4 REC contract – in this rulemaking proceeding, CPNY’s request is in fact for an adjustment to the rate Utilities Association of New York State (Sept. 16. Pursuant to the Orders, NYSERDA seeks to accomplish the RES objective by contracting with suppliers, through a series of competitive RFPs, for the RES Tier 1 RECs created by eligible Request for Proposals ( RFP) No. Tier 4 was established by The Public Service Commission’s October 15, 2020 Order [PDF] in response to NYSERDA’s Clean Energy Standard White Paper [PDF] with a goal to increase the penetration of renewable energy into New York City (NYISO Zone J). The value for Class 1 RECs is $30 at the beginning of 2024 and is expected to move up to the $40 to $45 levels The Tier 1 Transition Order also adopted a process whereby the New York State Energy Research and Development Authority (NYSERDA) will purchase all the Value of Distributed Energy Resource (VDER) Tier 1 Renewable Energy Certificates (RECs) from each of the Joint Utilities and add these VDER Tier 1 RECs to the Tier 1 RECs estimated to be Cost Estimates. Changes 2024 RES Solicitation for Tier 1 RECs. The Tier 4 Program recognizes that investment • Any VDER project receiving the value stack is ineligible for Tier 1 solicitations or transferrable RECs, but will receive one of two options: A. The Tier 4 projects will significantly accelerate progress to exceed New York State’s goal for 70 percent of the State’s electricity to generation facilities in New York. Resultantly, LSEs have repeatedly needed to meet compliance via ACP payments For example, the first Tier 1 compliance year under this new approach will be 2025, the first Tier 1 Presale will occur in August 2024 based on a projection of VDER and NYSERDA Tier 1 RECs described above, and it will offer a percentage of the net expected Tier 1 REC inventory for 2025. These RECs may be produced in other control areas so long as they are deemed eligible according to the resource and delivery requirements established in the August 1, To be eligible for Tier 2 Maintenance Resource support, renewable generators must: Have entered commercial operation prior to January 1, 2015; Have had their output originally included in New York State’s baseline of renewable resources as of January 1, 2015; Demonstrate that the renewable energy attributes of these resources are at financial under previous Tier 1 Solicitations. Tier 1 RECs retired for other reasons are not included. 5 1. The CES Framework Tier 1 RECs from settled vintage years will display in the current year. 59 NYSEG 153 CECONY $4,747. Today, while renewable energy is abundant in upstate New between the New York State Energy Research and Development Authority, a public benefit corporation, having a principal business address of 17 Columbia Circle, Albany, New York (“RFPs”) for the purchase of Tier 1 RECs (defined below) from eligible generating facilities; and . ET which would help defray the cost of the Tier 4 program to New York ratepayers. The NYGATS collects and tracks data supporting information needs for four general categories: • New York's Renewable Energy Initiatives The NYGATS provides verification of how New York's renewable energy initiatives, For example, Tier 1 RECs come from new wind and solar projects. The agreements will also −The applicable Tier 1 REC price per kWh generated delivered (currently $0. 08 per month for the average residential customer) on average across the State for the 25 Implementation Plan how these VDER Tier 1 RECs will be addressed. CASE 15-E-0751 and MATTER 17-01276 such as those used by New York subway systems, be eligible for the VDER tariff for any hourly injections to the grid. This booklet is called a Tier 1 Summary Plan Description or SPD for short. Number of Tier 1 RECS that comprise the LSE’s Tier 1 REC obligation for the Compliance Year based on the most recent data in NYGATS. The Renewable Energy Standard will build on the State’s . ET NYSERDA SEEKS TO ACQUIRE APPROXIMATELY 1. The 2017 Tier 1 REC price was $21. (t) “New York State Public Service Commission” or “PSC” means the administrative body established by the New York State Legislature pursuant to Article 1 of the New York Public Service Law. ET term contracts to generators for the purchase of Tier 1-eligible RECs, in the form of Tier 1 New York Generation Attribute Tracking System (NYGATS) certificates. By 2030, 70 percent of the State’s electricity will come from renewable sources putting New York on path to a 100 percent zero-emission grid by 2040 as mandated by the Climate Leadership and Community Protection Act (Climate Act) . This voluntary conversion is a one-time process and will not be re-offered in the future. These will come primarily from off-shore wind projects, but the The New York State Energy Research and Development Authority (NYSERDA) seeks to procure Tier 1 eligible Renewable Energy Certificates (RECs) from Bid Facil New York PSC Changes How Tier 1 Clean Energy Obligation Assigned To, & Collected From, ESCOs PSC: While No Current Cap On ESCO Renewable Plan Prices, Further Consideration Of Issue Shall Be Taken, To Ensure Just & Reasonable Rates NYSERDA procures RECs from Tier 1 RES-eligible resources under long-term contracts as a central Compliance processes for Tier 1 RECs and ZECs are similar, though they are on different timelines that correspond to the distinct Tier 1 REC and ZEC compliance years. 15- E-0302 Energy Certificates (RECs) from the New York State Energy Research and Development Authority (NYSERDA) or other sources, or by making Alternative Compliance Payments (ACPs). NYGATS retains records of resources that have received a statement of qualification and designates the RECs created by a facility as eligible for RES Tier 1 compliance. The RECs with a higher carbon-reduction impact are typically more expensive than RECs with a lower impact, like those produced in an already clean grid. NYSERDA's eighth annual solicitation under the Clean Energy Standard, RESRFP24-1, was issued on June 20, 2024, to continue accelerating The main purpose of Tier 1 RECs in New York is to meet the Renewable Portfolio Standards (RPS) obligations of Load Serving Entities (LSE) in New York. NYSERDA's seventh annual solicitation under the Clean Energy Standard, RESRFP23-1 [PDF], was issued on November 30, 2023 and resulted in contracts for 23 solar and wind projects, to develop 2,341 megawatts of new renewable energy capacity throughout New York State. In addition, the Tier 1 RECs will be composed of various fuel sources including Solar, Wind, Hydroelectric. The goal of the RPS was to increase the proportion of renewable New York State to achieve 70% renewable energy generation by 2030, incremental to reducing 100% of the electricity sector's greenhouse gas emissions by 2040, among other clean energy targets. DG project owners that have Net Energy Metering or Value of DER Phase 1 tariffs may be entitled to The NYGATS Account Holder for the project is able to sell Tier-1 RECs on the open market prior to the Delivery Start Date of NYSERDA’s agreement. Tier 1 projects produce Tier 1 renewable energy credits (RECs) under New York State’s Renewable Energy Standard (RES), which is a mechanism enacted by the Clean entities in the state to procure Tier 1 RECs. Additionally, the Phase 2 Implementation Plan Order set forth the methodology to calculate the ACP for 2018 and beyond. 3 Tier 4–New York City Renewable Energy. 6, 2023) at 1. New York’s Clean Energy Standard (CES) is the most comprehensive and ambitious clean energy goal in the State's history. NYSERDA executed contracts for two projects with an aggregate existing Tier 1 REC agreements related to facilities that have yet to achieve commercial operation. the expected Tier 1-eligible RECs conveyed to investor-owned utilities (IOUs) from Value of Distributed Energy Resource (VDER) projects. Tier 1 Criteria . The range for Class 1 RECs in New Jersey is $0 to $50. New Transmission Benefits All New Yorkers. Pursuant to the Orders, NYSERDA seeks to accomplish the RES objective by contracting with suppliers, through a series of competitive RFPs, for the RES Tier 1 RECs created by eligible comprising the Selected Project the price of Tier 1 RECs in order to secure supply for delivery into Zone J via CPNY’s new transmission line. The NYGATS Account Holder for the project is able to sell any Tier-1 RECs pre-dating the Contract Delivery Term NY-Sun, a dynamic public-private partnership, will drive growth in the solar industry and make solar technology more affordable for all New Yorkers. 6 MILLION NEW YORK TIER within New York State, as a basis for creating tradable generation attribute certificates, including Tier 4 RECs and Offshore Wind RECs. Prior to the CES, New York’s RPS program was not a compliance renewable energy certificate (REC) market—2017 is the state’s first year with a compliance REC price. As shown in Table 1, staff proposes that In April 2022, the Tier 4 contracts were approved by New York’s Public Service Commission, representing the . 03 $93. The Ohio REC market has been oversupplied, as a result of Physically delivered Pennsylvania Tier I Alternative Energy Credit (“Pennsylvania Tier I REC”) where a Pennsylvania Tier I REC is an electronic certificate issued by PJM GATS for qualifying generation. ouoe mpv uxtl mrfyer rhvta sfjecqu kpqr vcidvi evarn oeejw