States are following through on big promises to build renewable energy — and it’s a great time to do it, because new analysis concludes clean energy is cheap energy!
As part of New York’s Clean Energy Standard, Governor Cuomo has opened up the second call for up to 20 large-scale renewable energy projects. The new projects are expected to support enough renewable electricity per year to power 200,000 homes, spur up to $1.5 billion in private investment, and create more than 1,000 well-paying jobs. New York is a leading state on clean energy and has committed to sourcing 50% of its energy from renewable sources by 2030.
To learn more about a just transition to clean energy for New York, visit the New York Energy Democracy Alliance.
The Future Energy Jobs Act, passed in 2016, requires Illinois utility companies to source their energy for retail from at least 25% renewable sources by 2025. With a budget of more than $200 million to support the Act, and utilities striving to meet the law’s requirements, Illinois is anticipating new projects and big investments.
Over 1.6 million people in Illinois are in poverty. To support investment in social and climate justice for people in low-income communities, check out Neighborhood Funders Group.
For the first time in history, renewable energy is cheaper to produce than fossil energy, according to a new report of the G20 countries, compiled by a German energy asset management firm. Fossil fuel-generated energy costs in the range of $49-$174 per megawatt hour (MWh), while renewable energy production is between $35-$54 per MWh. This makes renewable energy $60 less per MWh, on average, to produce than fossil energy. The report is based on G20 countries’ data from Bloomberg, The Frankfurt School, the Renewable Cost Database of the International Agency for Renewable Energy (IRENA) and UN Environment.