For the New York State Energy Research and Development Authority (NYSERDA), EDR Group (now EBP), as part of a team with Sustainable Energy Advantage (SEA), developed the macroeconomic impact assessment (jobs and gross state product) for the second evaluation related to New York's main-tier Renewable Portfolio Standard (RPS) program.
The first evaluation was completed in 2008. For the 2013 update, EDR Group was tasked to model the forward-looking program scenario (using remaining authorized funding by 2017, some 1,269 MW of potential projects), and sensitivity on the impacts if there is a phase-out of the federal "PTC." The impacts reflected short-term in-state spending tied to projects and program administration, long-term O&M spending changes given the change in the mix of New York's generating assets, reduced future investment for generating capacity and operations, retail electric rate increases associated with the RPS contracts, concurrent with a wholesale electric price suppression effect, a reduction in income for New York-based generators and shareholders, and an import-substitution effect for the New York generation sector.
The Renewable Portfolio Standard (RPS), established by the New York State Public Service Commission (Commission) and administered by the New York State Energy Research and Development Authority (NYSERDA), has been New York’s primary policy initiative to promote the development of new renewable energy resources since it was established in 2004. In accordance with Commission directives with respect to a 2013 review and in cooperation with the staff of the Department of Public Service, NYSERDA has developed a series of reports to assist the Commission in assessing the RPS program in its entirety.