State Budget Includes Funding for the Renewable Capital Act Study

The New York state budget passed last week includes funding for the study that the Renewable Capital Act (RCA) calls for.

Although the RCA is not explicitly mentioned in the budget provisions, one of the laws enacted in the budget—the Decarbonization of State-Owned Facilities Act—calls for the New York Power Authority (NYPA) to establish decarbonization action plans for fifteen of the highest-emitting state-owned facilities. These plans will serve as a basis for reducing the facilities’ green house gas emissions to the maximum extent practicable. The Act authorizes up to thirty million dollars for developing the decarbonization plans, an average of two million dollars each.

The Empire State Plaza is certain to be identified as among the highest-emitting facilities in the state, as data gathered under the Build Smart NY program suggests that it’s one of the top three.

Although funding is now authorized, it’s still crucial for the legislature to pass the RCA because it has more robust requirements for decarbonization including electricity, a tighter timeline for study and plan development, and a required timeline for project completion. SHARE is actively contacting potential co-sponsors in the Assembly and Senate and engaging community members in pushing for this legislation.