Gov. Hochul announces $500M offshore wind investment, electrification push for New York
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New York's third offshore wind procurement will launch this year and is expected to result in at least 2 GW of new projects, Gov. Kathy Hochul, D, announced Wednesday in her 2022 State of the State address. The procurement will be paired with a $500 million infrastructure investment to develop a supply chain for the state's burgeoning offshore wind industry.
Hochul also unveiled a new legislative proposal to ensure all new building construction reaches zero emissions by 2027, and to develop 2 million "electrified or electrification-ready homes" by 2030. New York will also be doubling its energy storage target, she said.
Another proposal calls for all new school bus purchases to be electric by 2027 and to convert the state's fleet of 50,000 busses to be zero emission by 2035. The plan is "bold but achievable," Electrification Coalition Executive Director Ben Prochazka said in a statement.
New York has plans to lead the nation's offshore wind industry, while also eliminating building and transportation emissions, in order to develop a carbon-neutral economy by 2050.
"This transformative investment in green infrastructure will cement New York's status at the forefront of climate action and ensure equity in our transition to a cleaner, greener state," Hochul said in a statement.
Hochul's building electrification plan will "require zero on-site greenhouse gas emissions for new construction no later than 2027." The plan also calls for upgrading the state's appliance efficiency standards, and mandates energy benchmarking for large buildings to make it easier to track efficiency improvements over time.
The plan will also establish a "dedicated green electrification fund" to electrify low-income homes through a new $25 billion, five-year housing capital plan managed by the state office of Homes and Community Renewal.
"To make real progress on climate change, it's time to tackle major sources of pollution head-on, ensure greener housing is available to all New Yorkers, and pave the way toward a more sustainable future," Hochul said.
The upcoming wind procurement will power at least 1.5 million homes and create 2,000 jobs, according to the governor's office. The state is targeting 9 GW of offshore wind by 2035.
"With this investment, New York will lead the nation on offshore wind production," said Hochul. The $500 million will go to upgrade the state's "ports, manufacturing, and supply chain infrastructure needed to advance its offshore wind industry," according to a statement.
"This investment will ensure that New York has the strongest offshore wind energy market along the Eastern Seaboard, enabling us to be the offshore wind supply chain hub for other projects up and down the coast," Hochul's office said.
Hochul also revealed plans to double New York's storage deployment target, from 3 GW to 6 GW by 2030. The state will also move to switch out gasoline-powered school buses for zero emission models by 2035.
"Electric school buses are here and ready to be deployed, and it’s exciting to see New York seize the moment," Prochazka said. "This is a meaningful step toward realizing the national security, public health and economic benefits that electric vehicles offer."