New York sets its new record for electricity produced by photovoltaics
In a groundbreaking achievement, New York City reached a historic milestone last week by harnessing solar energy to generate a remarkable 20% of its electricity during peak production. This achievement marks a record-setting feat for the state. The New York Independent System Operator reported that a combined effort of residential and commercial photovoltaic (PV) systems produced an impressive 3,300 megawatts (MW) of power within a single hour on May 18, from noon to 1 p.m.
During this achievement, the energy generated by photovoltaic installations was utilized by a significant number of households, ranging between 2.7 and 3.5 million. A pivotal aspect to note is that out of the produced 3,300 MW, approximately 3,200 MW was directly consumed by customers. A mere 130 MW of the generated power was directed into the operator’s grid.
Doreen Harris, who serves as the president of the New York State Office of Energy Research and Development, expressed her satisfaction with the outcome. She stated that this accomplishment brings the state a step closer to achieving the ambitious targets outlined in the climate act. According to these goals, 70% of the state’s electricity is intended to be sourced from renewable energy by 2030, with a further aim of reaching 100% by 2040.
Incentives for residents
Residents of New York City who opt for photovoltaic (PV) installations enjoy a range of advantageous incentives. Firstly, they are eligible for a tax credit of up to 25% of the photovoltaic system’s cost, capped at USD 5,000.
The surplus energy generated by the PV system can be sold back to the operator at rates ranging from USD 0.69 to USD 1.09, while prosumers are also exempted from sales tax. Many experts consider New York to offer some of the most favorable benefits for prosumers across the entire United States.
According to the Solar Energy Industries Association, New York State is ranked ninth in terms of total installed PV capacity in the country.
This recent achievement of New York City in electricity production from solar power is yet another promising indicator for the ongoing green revolution in the United States. Just a few days ago, we highlighted the significance of renewables surpassing coal in energy production during the first quarter of this year. More details on this topic can be found in our article titled “The United States Already Produces More Energy from Renewables Than from Coal.“