The Market Opportunity in New York State

Synopsis

New York is becoming increasingly attractive for both onshore and offshore investment in solar, wind, green hydrogen and energy storage. A multi-gigawatt onshore renewables tender is on the cards for New York State with the announcement last week that NYSERDA is planning a minimum of 2GW of large-scale energy storage, solar and wind. Eligible projects will see 20-year subsidy contracts from the state. This pushes the state closer to its goal of 70% of power from carbon-free sources by 2030 and will see almost $3bn in fresh investment.