New York State Develops Solar Power Value Formula That Includes Environmental Benefits

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A new system takes the wholesale price of electricity and then adds a value on the environmental benefits of renewable energy

March 30, 2017

Photo: Pixabay

New York State’s Public Service Commission is trying a new approach to the highly contentious issue of how much solar energy generators should be paid for their excess electricity.

The commission is looking at a system that takes the wholesale price of electricity and then adds a value on the environmental benefits of renewable energy, as well as how it eases pressure on the state's power grid and meets electric demand in a particular area. Many of the details still need to be worked out, but the concept is much different than current policy. Today, solar power is valued at conventional retail rates that don’t vary and don’t include environmental benefits.

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