e2/ECTA Hails New York Solar Jobs Bill and Calls for Swift Passage
NJ Company Foresees National Market in Solar Energy Credits
Hillsborough, N.J.—A bi-partisan group of New York State legislators introduced steps last month to propel the Empire State to the forefront of solar energy production. New York currently generates just two-tenths of one percent of its current annual electrical needs from clean energy sources.
The bi-partisan Solar Industry Development and Jobs Act of 2011 (Solar Jobs Act) (A. 05713) requires energy producers doing business in the state to generate at least 4.5% of their electrical sales from renewable solar energy by 2025.
The bill’s authors would achieve this by creating a market for “Solar Renewable Energy Credits” (SRECs) to support solar infrastructure investment and by providing incentives for fast adopters to profit from trade in the credits. This model has been used successfully in other states to stimulate new energy investments by regulated utilities and consumers alike.
Conceding that New Jersey and other states have taken the lead in the race to build photovoltaic energy capacity, the bill’s sponsors propose to install 5,000 new megawatts of solar PV in New York by 2026, enough to power 500,000 households and to provide roughly 3% of the state’s total electrical load, a ten-fold increase in installed PV capacity. When enacted, the legislators say it will create tens of thousands of new jobs and generate billions in new wages.
“We applaud the vision of Assemblymen Steven Englebright and Kevin Cahill, along with that of Senator George Maziarz,” said Paul Udowychenko, President and CEO of e2/ECTA, a leading New Jersey provider of photovoltaic energy technology serving businesses and homeowners in both states.
“As we’ve seen in other states where we do business, robust, sustainable markets in renewable energy start with making it feasible for regulated utilities to escape their dependency on fossil fuels. Our company’s rapid growth is direct proof that new investment in solar and other renewable sources is good for the economy and good for the environment. We support this bill and urge its successful adoption.”
e2/ECTA is the fastest growing turnkey supplier of advanced technologies for Solar Energy, Lighting, and HVAC upgrades. Leveraging its expertise in project finance and energy engineering, e2 consultants advise leading companies on ways to reduce energy inefficiency and generate positive cash-flow from renewable energy sources. For more information see: http://www.e2ecta.com.
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