ALBANY, N.Y. (NEWS10)- With ambitious climate change legislation already in place, Gov. Kathy Hochul wants to speed up the state’s move to 100% green energy in 2022. To do this, $500 million will be spent to support New York’s offshore wind industry.
Five projects currently in progress will be able to provide enough wind energy to power three million homes when completed. The $500 million Gov. Hochul pledged Wednesday in her 2022 State of the State book will be used for ports, manufacturing, and supply chain infrastructure that will support offshore wind projects not just in the state but along the East Coast.
Moving to green energy could be hindered if the state doesn’t figure out a way to store energy created by offshore wind. To double previously set storage goals, Gov. Hochul said she is directing the Department of Public Service and New York State Energy Research and Development Authority (NYSERDA) to update New York State’s Energy Storage Roadmap with a goal of six gigawatts of energy storage by 2030.
Gov. Hochul said she will direct NYSERDA, the New York Power Authority, and Empire State Development to compete for $10 billion in federal funding for green hydrogen research and development. She also announced a plan for getting rid of fossil fuel facilities in New York City.
Additionally, nearly $40 billion in assets from New York State authorities, public benefit corporations, and the State Insurance Fund will be invested in renewable energy and other sustainable solutions. This was announced by the Comptroller’s Office in early December.