PSC wants to accelerate renewables for New York.(Alternatives)(New York State Public Service Commission)

The New York State Public Service Commission is accelerating a program to foster development of renewable energy generation in New York State in 2005 so that qualified generators can take advantage of federal tax credits scheduled to expire at the end of 2005. The federal tax credits hold the potential of saving electricity customers throughout the state tens of millions of dollars by reducing renewable generating costs for individual projects. New York State Energy Research and Development Authority estimates of total project cost savings, and thus customer savings, could be in the range of $97 million depending on the extent of renewable energy developed in 2005.

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