States across the country have been making more efforts to go green. They want to ensure a better future for younger generations and those to come. Many states have introduced and increased their renewable energy portfolios as part of their efforts. They are setting minimum requirements for renewable energy so that they aren't as reliant on traditional fuels. 29 states currently have renewable energy portfolio standards. These standards affect the energy options that residents have. They require utility companies to sell a certain percentage of renewable electricity. These requirements apply to investor-owned utilities, with some states including municipalities and cooperatives too.
What Counts as Renewable Electricity?
Renewable electricity is energy that comes from a green source that is not finite. Unlike coal and oil, renewable sources can be used indefinitely. They also have a lower impact on the environment. Renewable electricity in NY comes from a variety of sources. They include wind power, hydropower, and solar power. The renewable energy market in the US is worth billions of dollars. Green energy policies in various states help the market to grow. Countries around the world are starting to increase their renewable energy output.
What Are New York's Green Energy Requirements?
New York State has its own green energy requirements. The state's renewable energy policy was first ordered in 2004. It required the current level of renewable energy sales (19%) to increase to 25% by 2013. It was decided that the amount should rise to 29% by 2015. Currently, the goal is for renewable energy sales in New York to be at 50% by 2030. There is also a suggestion that the power sector should reduce CO2 emissions by 44% by 2030. It has also been proposed that energy efficiency should increase across the state.
The Cost of Renewable Energy
Many people worry about renewable energy making their bills more expensive. It can mean an increase in rates. However, New York, like many other states, has a cost-cap in place. This prevents consumer's bills from rising too high. In New York, the cap is currently at 1.7%, which is among the lowest. Other states don't have a cap or have one as high as 9.5% (Rhode Island). Similar caps to New York's include 1.8% in Ohio and 1.4% in North Carolina. Some of the lowest caps include 0.1% in Montana and 1% in Missouri.
Do Your Part
Switching to an ESCO gives you more opportunities to choose green energy supplies. Suppliers can offer you renewable energy products that you might choose for your home. Currently, green products may be a little more expensive than other energy plans. However, you can compare what is available to find the best deal. If you care about the environment and future generations, you can play your part in increasing the state's renewable energy usage. Your energy can come from wind power or from green power, which is wind-generated and small hydropower. You may be paying an additional 1 to 2.5 cents per kWh.
Switching to green energy helps the state, the country, and the world. However, don't forget to compare plans to get the best price.
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