This bill has been amended

Bill S7093-2009

Creates the New York solar industry development and jobs act of 2010

Creates the New York solar industry development and jobs act; relates to procurement of solar renewable energy credits; establishes schedule with annual percentages to be met for compliance years.

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  • Mar 11, 2010: REFERRED TO ENERGY AND TELECOMMUNICATIONS

Memo

 BILL NUMBER:  S7093

TITLE OF BILL : An act to amend the public service law and the public authorities law, in relation to the creation of the New York solar industry development and jobs act of 2010 and the procurement of solar renewable energy credits

PURPOSE OR GENERAL IDEA OF BILL : The purpose of the bill is to establish a program to enable the rapid and sustainable development of a robust solar power industry in New York State, creating a scalable, diverse and competitive solar energy market and thus harnessing the associated multiple benefits. The program includes targets to achieve at least 5,000 megawatts (MW) of solar PV capacity in the state by 2025, with interim targets of at least 500 MW by 2015 and 1,500 MW by 2020.

SUMMARY OF SPECIFIC PROVISIONS : Section 1 of the bill sets forth the legislative intent and purpose.

Section 2 of the bill cites the title of the act as the "New York Solar Industry Development and Jobs Act of 2010."

Section 3 of the bill amends the public service law by adding a new section 66-M.

A new subdivision 1 defines the following terms used in the section: building integrated photovoltaic equipment, electric distribution company, photovoltaic device, qualified solar energy generator, qualified solar energy generation, retail distributed solar energy generation, small retail distributed solar energy generation, solar purchase agreement, and solar renewable energy credit or SREC.

A new subdivision 2 sets forth a minimum number of solar renewable energy credits (SRECs) associated with gigawatt-hours of solar energy generated within New York state, from solar PV systems placed into service after the effective date of the section, that electric distribution companies (investor-owned electric utilities), in the aggregate, must procure annually from 2012 through 2025. The Public Service Commission (PSC) shall establish obligations for each company based upon its proportionate share of the total amount of electricity distributed in New York. This subsection also stipulates that at least twenty percent of each company's annual obligation shall be met through procurement of SRECs associated with small retail distributed solar energy generation and that at least an additional thirty percent of such annual obligation shall be met through the procurement of SRECs associated with retail distributed solar energy generation produced by equipment of any size. Electric distribution company obligations continue until all existing solar purchase agreements have expired. Companies may meet their obligations through the procurement of SRECs or a combination of SRECs and solar energy

A new subdivision 3 requires the PSC to establish an alternative compliance payment that electric distribution companies may pay in the event they cannot meet their annual SREC obligation. The PSC shall set the payment at a level that will stimulate new qualified solar energy generation necessary to achieve the obligations. The PSC is required to establish an alternative compliance payment schedule through 2025 and to annually review and increase, as necessary, such payments after appropriate notice and opportunity for public comment. All monies collected through such payments shall go toward solar initiatives td be developed by the New York State Energy Research and Development Authority.

A new subdivision 4 requires the PSC to establish a template for solar purchase agreements to be used by electric distribution companies for the procurement of SRECs for the purpose of fulfilling their obligations. This subdivision also requires companies to submit a solar solicitation plan for PSC review and approval, which shall include a timetable and methodology for soliciting proposals for the purpose of meeting their obligations for the procurement of SRECs associated with generation other than small retail distributed solar energy generation (produced by systems at or under 50 kilowatts (kW) in size) and which shall foster a diversity of solar project sizes and participation among all eligible customer classes subject to cost effectiveness considerations. Each company. is also required to submit to the PSC for review and approval a preferred procurement plan comprised of any proposed solar purchase agreements for such SRECs, which the PSC may approve, reject or modify, provided that the PSC must approve such plan if certain findings, as outlined in the subdivision, are made. Such procurement plans are deemed approved if the PSC does not approve, reject or modify within 60 days. Companies must also submit to the PSC for review and approval a plan for achieving their obligations to procure SRECs associated with small retail distributed solar energy generation.

A new subdivision 5 provides that electric distribution companies are entitled to recover prudently incurred costs of complying with their obligations established by the PSC pursuant to subdivision 2.

A new subdivision 6 requires the PSC to establish an incentive program for companies' achievement of their obligations and for exemplary performance. Incentive parameters include achieving the obligations at least cost and avoiding long-term costs to the transmission and distribution system, providing enhanced electricity reliability within companies' service territories, and minimizing peak load in grid constrained areas.

A new subdivision 7 requires the PSC to establish the terms and conditions applicable to solar purchase agreements regarding the procurement of SRECs associated with small retail distributed solar energy generation. Such terms and conditions shall include the establishment of a tariff for the procurement of such SRECs to be paid by electric distribution companies to applicable qualified solar energy generators. Additionally, the PSC is required to establish a separate tariff for the procurement of SRECs associated with building integrated photovoltaic equipment that is one hundred twenty-five percent of the tariff amount established for the procurement of SRECs associated with other sources of small retail distributed solar energy generation. The PSC shall review such tariffs every two years and adjust as necessary to achieve the obligations pertaining to SRECs associated with small retail distributed solar energy generation.

A new subdivision 8 permits electric distribution companies to construct, own and operate solar PV systems for the purpose of meeting a maximum of twenty-five percent of their annual obligation established by the PSC pursuant to subdivision 2. Companies may not recover prudent costs associated with the construction of solar PV systems without obtaining prior approval for such costs from the PSC.

A new subdivision 9 requires the PSC to provide an annual report on the progress of the program no later than July 1, 2013, and no later than every July 1st thereafter through 2026, to the Governor, Speaker of the Assembly, majority leader of the Senate, and chairs of the Senate and Assembly Energy Committees, which shall also be posted on the PSC's web site. The PSC shall establish a reporting obligation and process for electric distribution companies to provide the necessary information to the PSC.

Section 4 of the bill amends section 1005 of the public authorities law by adding a new subdivision 17 to such section.

A new paragraph (a) defines the following terms used in the subdivision: photovoltaic device, qualified solar energy generator, qualified solar energy generation, retail distributed solar energy generation, small retail distributed solar energy generation, solar purchase agreement, and solar renewable energy credit or SREC.

A new paragraph (b) sets forth a minimum number of SRECs associated with gigawatt-hours of solar energy generated within New York, from solar PV systems placed into service after the effective date of the subdivision, that the New York Power Authority (NYPA) must procure annually from 2012 through 2025. This paragraph also stipulates that at least twenty percent of NYPA's annual obligations shall be met through the procurement of SRECs associated with small retail distributed solar energy generation and that at least an additional thirty percent of NYPA's annual obligation shall be met through the procurement of SRECs associated with retail distributed solar energy generation produced by equipment of any size. NYPA obligations continue until all existing solar purchase agreements have expired. NYPA may meet its obligations through the procurement of SRECs or a combination of SRECs and solar energy.

A new paragraph (c) requires NYPA to submit a solar solicitation plan, including a timetable and methodology for soliciting proposals for the purpose of meeting its obligations for the procurement of SRECs associated with generation other than small retail distributed solar energy generation, to the Governor, Speaker of the Assembly, majority leader of the Senate, and chairs of the Senate and Assembly Energy Committees, which shall also be posted on NYPA's web site. NYPA shall execute its solicitation plan and shall also similarly submit and post a solar procurement plan comprised of any solar purchase agreements for such SRECs, as well as a plan for the achievement of its obligations pertaining to SRECs associated with small retail distributed solar energy generation.

A new paragraph (d) requires NYPA to provide an annual report on the progress of the program no later than July 1, 2013, and no later than every July 1st thereafter through 2026, to the Governor, Speaker of the Assembly, majority leader of the Senate, and chairs of the Senate and Assembly Energy Committees, which shall also be posted on NYPA's web site.

Section 5 of the bill amends the public authorities law by adding a new section 1020-KK.

A new subdivision 1 defines the following terms used in the section: photovoltaic device, qualified solar energy generator, qualified solar energy generation, retail distributed solar energy generation, small retail distributed solar energy generation, solar purchase agreement, and solar renewable energy credit or SREC.

A new subdivision 2 sets forth a minimum number of SRECs associated with gigawatt-hours of solar energy generated within New York state, from solar PV systems placed into service after the effective date of the section, that the Long Island Power Authority (LIPA) must procure annually from 2012 through 2025. This subdivision also stipulates that at least twenty percent of LIPA's annual obligations shall be met through the procurement of SRECs associated with small retail distributed solar energy generation and that at least an additional thirty percent of LIPA's annual obligation shall be met through the procurement of SRECs associated with retail distributed solar energy generation produced by equipment of any size. LIPA obligations continue until all existing solar purchase agreements have expired.

LIPA may meet its obligations through the procurement of SRECs or a combination of SRECs and solar energy.

A new subdivision 3 requires LIPA to submit a solar solicitation plan, including a timetable and methodology for soliciting proposals for the purpose of meeting its obligations for the procurement of SRECs associated with generation other than small retail distributed solar energy generation, to the Governor, Speaker of the Assembly, majority leader of the Senate, and chairs of the Senate and Assembly Energy Committees, which shall also be posted on LIPA's web site. LIPA shall execute its solicitation plan and shall also similarly submit and post a solar procurement plan comprised of any solar purchase agreements for such SRECs, as well as a plan for the achievement of its obligations pertaining to SRECs associated with small retail distributed solar energy generation.

A new subdivision 4 requires LIPA to establish a tariff for the procurement of SRECs associated with small retail distributed solar energy generation to be (paid by LIPA to applicable qualified solar energy generators. Additionally, LIPA is required to establish a separate tariff for the procurement of SRECs associated with building integrated photovoltaic equipment that is one hundred twenty-five percent of the tariff amount established for the procurement of SRECs associated with other sources of small retail distributed solar energy generation. LIPA shall review such tariffs every two years and adjust as necessary to achieve its obligations pertaining to SRECs associated with small retail distributed solar energy generation set forth in the section.

A new subdivision 5 requires LIPA to provide an annual report on the progress of the program no later than July 1, 2013, and no later than every July 1st thereafter through 2026, to the Governor, Speaker of the Assembly, majority leader of the Senate, and chairs of the Senate and Assembly Energy Committees, which shall also be posted on LIPA's web site.

JUSTIFICATION : This bill lays an important cornerstone toward building the foundation for New York's clean energy economy that will elevate the state to be a solar industry leader while helping to ensure increased economic development. Despite its abundant solar resources, New York is falling behind neighboring states in solar energy generation and is thus not tapping into the many benefits derived from this clean source of power. Such benefits include the creation of much-needed jobs within the state, long-term electricity cost reduction, increased electric grid reliability and energy independence, and a decrease in harmful air pollution, including greenhouse gas emissions that contribute to global warming.

PRIOR LEGISLATIVE HISTORY : None.

FISCAL IMPLICATIONS : None.

EFFECTIVE DATE : This act shall take effect immediately upon its enactment into law.

Text

STATE OF NEW YORK ________________________________________________________________________ 7093 IN SENATE March 11, 2010 ___________
Introduced by Sens. THOMPSON, FOLEY, KRUEGER -- read twice and ordered printed, and when printed to be committed to the Committee on Energy and Telecommunications AN ACT to amend the public service law and the public authorities law, in relation to the creation of the New York solar industry development and jobs act of 2010 and the procurement of solar renewable energy credits THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Legislative intent and purpose. It is the intent of the legislature to enable the rapid and sustainable development of a robust solar power industry in New York by creating a scalable, diverse and competitive solar energy market within the state. By tapping into the state's abundant solar energy resources, it is the further intent of the legislature to harness the multiple benefits associated with the gener- ation of such clean power, including the significant creation of much needed jobs within the state, a reduction of the long-term costs of electricity generation for New York's energy consumers, increased reli- ability of the state's electric grid, and a decrease in the emission of harmful air pollution, including greenhouse gas emissions. By establish- ing such a program, New York will create a solar energy enterprise that will elevate the state to be among the world's cutting edge clean energy industry leaders, while helping to secure increased economic development for New Yorkers. S 2. This act shall be known and may be cited as the "New York solar industry development and jobs act of 2010." S 3. The public service law is amended by adding a new section 66-m to read as follows: S 66-M. PROCUREMENT OF SOLAR RENEWABLE ENERGY CREDITS. 1. DEFINITIONS. AS USED IN THIS SECTION: (A) "BUILDING INTEGRATED PHOTOVOLTAIC EQUIPMENT" MEANS A PHOTOVOLTAIC DEVICE THAT DIRECTLY FUNCTIONS AS A PART OF THE ENVELOPE OF A BUILDING INCLUDING INTEGRATED ROOF COVER, FACADE OR BUILDING CLADDING, GLAZED SURFACES, SOLAR SHADING DEVICES, CANOPIES AND SKYLIGHTS;
(B) "ELECTRIC DISTRIBUTION COMPANY" MEANS AN INVESTOR-OWNED UTILITY THAT DISTRIBUTES ELECTRICITY WITHIN NEW YORK STATE; (C) "PHOTOVOLTAIC DEVICE" MEANS A SYSTEM OF COMPONENTS THAT GENERATES ELECTRICITY FROM INCIDENT SUNLIGHT BY MEANS OF THE PHOTOVOLTAIC EFFECT, WHETHER OR NOT THE DEVICE IS ABLE TO STORE THE ENERGY PRODUCED FOR LATER USE; (D) "QUALIFIED SOLAR ENERGY GENERATOR" MEANS THE OWNER OF A PHOTOVOL- TAIC DEVICE OR DEVICES THAT PRODUCES QUALIFIED SOLAR ENERGY GENERATION; (E) "QUALIFIED SOLAR ENERGY GENERATION" MEANS POWER GENERATED BY A PHOTOVOLTAIC DEVICE THAT IS PLACED IN SERVICE WITHIN THE JURISDICTIONAL BOUNDARIES OF THE STATE OF NEW YORK AFTER THE EFFECTIVE DATE OF THIS SECTION; (F) "RETAIL DISTRIBUTED SOLAR ENERGY GENERATION" MEANS QUALIFIED SOLAR ENERGY GENERATION PRODUCED BY A PHOTOVOLTAIC DEVICE THAT IS LOCATED ON THE CUSTOMER SIDE OF THE ELECTRIC DISTRIBUTION COMPANY METER AND IS INTERCONNECTED TO THE DISTRIBUTION SYSTEM; (G) "SMALL RETAIL DISTRIBUTED SOLAR ENERGY GENERATION" MEANS RETAIL DISTRIBUTED SOLAR ENERGY GENERATION PRODUCED BY A PHOTOVOLTAIC DEVICE THAT IS EQUAL TO OR LESS THAN FIFTY KILOWATTS IN SIZE; (H) "SOLAR PURCHASE AGREEMENT" MEANS AN AGREEMENT, FOR A MINIMUM OF FIFTEEN YEARS, FOR THE PURCHASE OF SRECS FROM A QUALIFIED SOLAR ENERGY GENERATOR; AND (I) "SOLAR RENEWABLE ENERGY CREDIT" OR "SREC" MEANS THE ENVIRONMENTAL ATTRIBUTES ASSOCIATED WITH ONE MEGAWATT-HOUR OF QUALIFIED SOLAR ENERGY GENERATION. 2. (A) ELECTRIC DISTRIBUTION COMPANIES, IN THE AGGREGATE, SHALL PROCURE, AT MINIMUM, SRECS ASSOCIATED WITH GIGAWATT-HOURS (GWH) OF QUAL- IFIED SOLAR ENERGY GENERATION IN ACCORDANCE WITH THE FOLLOWING SCHEDULE, PROVIDED THAT THE NUMBER OF SRECS TO BE PROCURED BY EACH ELECTRIC DISTRIBUTION COMPANY SHALL BE BASED ON EACH COMPANY'S PROPORTIONATE SHARE OF THE TOTAL NUMBER OF GIGAWATT-HOURS DISTRIBUTED IN NEW YORK BY ALL ELECTRIC DISTRIBUTION COMPANIES, AS SHALL BE DETERMINED BY THE COMMISSION NO LATER THAN JANUARY FIRST, TWO THOUSAND ELEVEN: 2012 51.6 GWH 2013 77.4 GWH 2014 103.2 GWH 2015 154.8 GWH 2016 221.9 GWH 2017 309.6 GWH 2018 438.6 GWH 2019 619.2 GWH 2020 877.2 GWH 2021 1,186.8 GWH 2022 1,444.8 GWH 2023 1,857.6 GWH 2024 2,373.6 GWH 2025 3,096.0 GWH (B) AT LEAST TWENTY PERCENT OF THE ANNUAL OBLIGATION ESTABLISHED BY THE COMMISSION FOR EACH ELECTRIC DISTRIBUTION COMPANY SHALL BE MET THROUGH THE PROCUREMENT OF SRECS ASSOCIATED WITH SMALL RETAIL DISTRIB- UTED SOLAR ENERGY GENERATION; AND AT LEAST AN ADDITIONAL THIRTY PERCENT OF THE ANNUAL OBLIGATION ESTABLISHED BY THE COMMISSION FOR EACH ELECTRIC DISTRIBUTION COMPANY SHALL BE MET THROUGH THE PROCUREMENT OF SRECS ASSO- CIATED WITH RETAIL DISTRIBUTED SOLAR ENERGY GENERATION PRODUCED BY EQUIPMENT OF ANY SIZE.
(C) OBLIGATIONS FOR THE PROCUREMENT OF SRECS ASSOCIATED WITH QUALIFIED SOLAR ENERGY GENERATION SHALL CONTINUE UNTIL ALL EXISTING SOLAR PURCHASE AGREEMENTS HAVE EXPIRED. (D) ELECTRIC DISTRIBUTION COMPANIES MAY MEET THEIR OBLIGATIONS ESTAB- LISHED BY THE COMMISSION PURSUANT TO THIS SUBDIVISION THROUGH THE PROCUREMENT OF SRECS OR A COMBINATION OF SRECS AND SOLAR ENERGY. 3. (A) IN THE EVENT THAT ELECTRIC DISTRIBUTION COMPANIES CANNOT MEET THEIR OBLIGATIONS ESTABLISHED PURSUANT TO SUBDIVISION TWO OF THIS SECTION, THEY SHALL BE PERMITTED TO DISCHARGE SUCH OBLIGATIONS BY MAKING AN ALTERNATIVE COMPLIANCE PAYMENT IN AN AMOUNT ESTABLISHED BY THE COMMISSION, PROVIDED, HOWEVER, THAT THE COMMISSION SHALL SET SUCH PAYMENT AT A LEVEL THAT SHALL STIMULATE THE DEVELOPMENT OF NEW QUALIFIED SOLAR ENERGY GENERATION EQUIPMENT NECESSARY TO ACHIEVE THE OBLIGATIONS ESTABLISHED IN SUBDIVISION TWO OF THIS SECTION. (B) NO LATER THAN JULY FIRST, TWO THOUSAND ELEVEN, THE COMMISSION SHALL ESTABLISH AN ALTERNATIVE COMPLIANCE PAYMENT SCHEDULE THROUGH THE YEAR TWO THOUSAND TWENTY-FIVE, AND SHALL ANNUALLY REVIEW SUCH SCHEDULE TO ENSURE THAT THE PAYMENTS ARE SET AT A LEVEL TO STIMULATE THE DEVELOP- MENT OF NEW QUALIFIED SOLAR ENERGY GENERATION EQUIPMENT, IN ACCORDANCE WITH SUBDIVISION TWO OF THIS SECTION. ONCE SUCH SCHEDULE IS ESTAB- LISHED, THE COMMISSION MAY ADOPT, AFTER APPROPRIATE NOTICE AND OPPORTU- NITY FOR PUBLIC COMMENT, AN INCREASE IN ALTERNATIVE COMPLIANCE PAYMENTS, PROVIDED THAT THE COMMISSION SHALL NOT REDUCE PREVIOUSLY ESTABLISHED LEVELS OF PAYMENTS, NOR SHALL THE COMMISSION PROVIDE RELIEF FROM THE OBLIGATION OF PAYMENT OF THE ALTERNATIVE COMPLIANCE PAYMENTS BY THE ELECTRIC DISTRIBUTION COMPANIES IN ANY FORM. (C) THE COMMISSION SHALL MAKE AVAILABLE ALL MONIES FROM AMOUNTS COLLECTED THROUGH SUCH ALTERNATIVE COMPLIANCE PAYMENTS FOR SOLAR INITI- ATIVES TO BE DEVELOPED BY THE NEW YORK STATE ENERGY RESEARCH AND DEVEL- OPMENT AUTHORITY. 4. (A) NO LATER THAN JANUARY FIRST, TWO THOUSAND ELEVEN, THE COMMIS- SION SHALL ESTABLISH A TEMPLATE FOR SOLAR PURCHASE AGREEMENTS TO BE USED BY ELECTRIC DISTRIBUTION COMPANIES FOR THEIR PROCUREMENT OF SRECS FOR THE PURPOSE OF FULFILLING THEIR OBLIGATIONS ESTABLISHED PURSUANT TO SUBDIVISION TWO OF THIS SECTION. (B) EACH ELECTRIC DISTRIBUTION COMPANY SHALL, NOT LATER THAN JULY FIRST, TWO THOUSAND ELEVEN, SUBMIT FOR COMMISSION REVIEW AND APPROVAL A SOLAR SOLICITATION PLAN THAT SHALL INCLUDE A TIMETABLE AND METHODOLOGY FOR SOLICITING PROPOSALS FOR SRECS ASSOCIATED WITH QUALIFIED SOLAR ENER- GY GENERATION OTHER THAN SMALL RETAIL DISTRIBUTED SOLAR ENERGY GENER- ATION, FOR THE PURPOSE OF FULFILLING ITS OBLIGATIONS ESTABLISHED PURSU- ANT TO SUBDIVISION TWO OF THIS SECTION. THE ELECTRIC DISTRIBUTION COMPANY'S SOLAR SOLICITATION PLAN SHALL BE DESIGNED TO FOSTER A DIVERSI- TY OF SOLAR PROJECT SIZES AND PARTICIPATION AMONG ALL ELIGIBLE CUSTOMER CLASSES SUBJECT TO COST-EFFECTIVENESS CONSIDERATIONS. (C) EACH ELECTRIC DISTRIBUTION COMPANY SHALL EXECUTE ITS APPROVED SOLICITATION PLAN AND SUBMIT FOR COMMISSION REVIEW AND APPROVAL ITS PREFERRED SOLAR PROCUREMENT PLAN COMPRISED OF ANY PROPOSED SOLAR PURCHASE AGREEMENTS FOR SRECS ASSOCIATED WITH QUALIFIED SOLAR ENERGY GENERATION OTHER THAN SMALL RETAIL DISTRIBUTED SOLAR ENERGY GENERATION. THE COMMISSION MAY APPROVE, REJECT OR MODIFY AN APPLICATION FOR APPROVAL OF SUCH PLAN, PROVIDED THAT THE COMMISSION SHALL APPROVE SUCH PLAN IF THE COMMISSION FINDS THAT: (I) THE SOLICITATION AND EVALUATION CONDUCTED BY THE ELECTRIC DISTRIBUTION COMPANY WAS THE RESULT OF A FAIR, OPEN, COMPETITIVE AND TRANSPARENT PROCESS; (II) APPROVAL OF THE SOLAR PROCURE- MENT PLAN WOULD RESULT IN THE ACHIEVEMENT OF THE DISTRIBUTION COMPANY'S
OBLIGATIONS PERTAINING TO THE PROCUREMENT OF SRECS ASSOCIATED WITH QUAL- IFIED SOLAR ENERGY GENERATION OTHER THAN SMALL RETAIL DISTRIBUTED SOLAR ENERGY GENERATION AT THE LOWEST REASONABLE COST; AND (III) SUCH PROCURE- MENT PLAN SATISFIES OTHER CRITERIA AS MAY BE ESTABLISHED IN THE APPROVED SOLICITATION PLAN. IF THE COMMISSION DOES NOT APPROVE, REJECT OR MODIFY THE DISTRIBUTION COMPANY'S APPLICATION WITHIN SIXTY DAYS, THE PROCURE- MENT PLAN SHALL BE DEEMED APPROVED. (D) NO LATER THAN JULY FIRST, TWO THOUSAND ELEVEN, EACH ELECTRIC DISTRIBUTION COMPANY SHALL SUBMIT TO THE COMMISSION FOR REVIEW AND APPROVAL A PLAN FOR THE ACHIEVEMENT OF ITS OBLIGATION PERTAINING TO THE PROCUREMENT OF SRECS ASSOCIATED WITH SMALL RETAIL DISTRIBUTED SOLAR ENERGY GENERATION ESTABLISHED PURSUANT TO SUBDIVISION TWO OF THIS SECTION. 5. EACH ELECTRIC DISTRIBUTION COMPANY SHALL BE ENTITLED TO RECOVER THE PRUDENTLY INCURRED COSTS OF COMPLYING WITH ITS OBLIGATIONS ESTABLISHED PURSUANT TO SUBDIVISION TWO OF THIS SECTION, AS DETERMINED BY THE COMMISSION. 6. NO LATER THAN JULY FIRST, TWO THOUSAND ELEVEN, THE COMMISSION SHALL ESTABLISH AN INCENTIVE PROGRAM FOR ELECTRIC DISTRIBUTION COMPANIES BASED ON SUCH COMPANIES' ACHIEVEMENT OF THEIR OBLIGATIONS, AND EXEMPLARY PERFORMANCE BEYOND SUCH OBLIGATIONS, ESTABLISHED PURSUANT TO SUBDIVISION TWO OF THIS SECTION: (I) IN A COST-EFFECTIVE MANNER THAT ACHIEVES THE OBLIGATIONS AT LEAST COST AND AVOIDS LONG-TERM COSTS TO THE TRANSMISSION AND DISTRIBUTION SYSTEM; (II) PROVIDES ENHANCED ELECTRICITY RELIABILITY WITHIN COMPANIES' SERVICE TERRITORIES; AND (III) MINIMIZES PEAK LOAD IN CONSTRAINED AREAS. 7. NO LATER THAN JANUARY FIRST, TWO THOUSAND ELEVEN, THE COMMISSION SHALL ESTABLISH THE TERMS AND CONDITIONS THAT SHALL BE APPLICABLE TO SOLAR PURCHASE AGREEMENTS ENTERED INTO BY ELECTRIC DISTRIBUTION COMPA- NIES FOR THE PROCUREMENT OF SRECS ASSOCIATED WITH SMALL RETAIL DISTRIB- UTED SOLAR ENERGY GENERATION, FOR THE PURPOSE OF ACHIEVING SUCH COMPA- NIES' OBLIGATIONS PERTAINING TO SRECS ASSOCIATED WITH SUCH GENERATION ESTABLISHED PURSUANT TO SUBDIVISION TWO OF THIS SECTION. SUCH TERMS AND CONDITIONS SHALL INCLUDE A TARIFF, AS ESTABLISHED BY THE COMMISSION, FOR THE PROCUREMENT OF SRECS ASSOCIATED WITH SMALL RETAIL DISTRIBUTED SOLAR ENERGY GENERATION, TO BE PAID BY ELECTRIC DISTRIBUTION COMPANIES TO APPLICABLE QUALIFIED SOLAR ENERGY GENERATORS. THE COMMISSION SHALL ESTABLISH A SEPARATE TARIFF FOR THE PROCUREMENT OF SRECS ASSOCIATED WITH SMALL RETAIL DISTRIBUTED SOLAR ENERGY GENERATION THAT IS PRODUCED BY BUILDING INTEGRATED PHOTOVOLTAIC EQUIPMENT, WHICH SHALL BE EQUIVALENT TO ONE HUNDRED TWENTY-FIVE PERCENT OF THE TARIFF APPLICABLE TO SRECS ASSO- CIATED WITH OTHER SOURCES OF SMALL RETAIL DISTRIBUTED SOLAR ENERGY GENERATION. THE COMMISSION SHALL REVIEW SUCH TARIFFS EVERY TWO YEARS AND ADJUST AS NECESSARY TO ACHIEVE THE OBLIGATIONS PERTAINING TO SRECS ASSO- CIATED WITH SMALL RETAIL DISTRIBUTED SOLAR ENERGY GENERATION ESTABLISHED IN SUBDIVISION TWO OF THIS SECTION. 8. EACH ELECTRIC DISTRIBUTION COMPANY SHALL BE PERMITTED TO CONSTRUCT, OWN AND OPERATE QUALIFIED SOLAR ENERGY GENERATION EQUIPMENT FOR THE PURPOSE OF COMPLYING WITH THE COMPANY'S OBLIGATIONS ESTABLISHED PURSUANT TO SUBDIVISION TWO OF THIS SECTION; PROVIDED, HOWEVER, THAT THE SRECS ASSOCIATED WITH THE QUALIFIED SOLAR ENERGY GENERATION PRODUCED BY SUCH EQUIPMENT SHALL NOT, IN THE AGGREGATE, COMPRISE GREATER THAN TWENTY-FIVE PERCENT OF SUCH COMPANY'S OBLIGATIONS, AS ESTABLISHED PURSUANT TO SUBDI- VISION TWO OF THIS SECTION, IN ANY CALENDAR YEAR. NO ELECTRIC DISTRIB- UTION COMPANY MAY RECOVER PRUDENTLY INCURRED COSTS ASSOCIATED WITH THE
CONSTRUCTION OF QUALIFIED SOLAR ENERGY GENERATION EQUIPMENT WITHOUT OBTAINING PRIOR APPROVAL FOR THE COSTS FROM THE COMMISSION. 9. (A) NO LATER THAN JULY FIRST, TWO THOUSAND THIRTEEN, AND NO LATER THAN JULY FIRST OF EACH YEAR THEREAFTER THROUGH THE YEAR TWO THOUSAND TWENTY-SIX, THE COMMISSION SHALL REPORT TO THE GOVERNOR, SPEAKER OF THE ASSEMBLY, MAJORITY LEADER OF THE SENATE, AND CHAIRS OF THE SENATE AND ASSEMBLY ENERGY COMMITTEES, AND SHALL POST ON ITS WEB SITE, A REPORT REGARDING THE PROGRESS OF EACH ELECTRIC DISTRIBUTION COMPANY IN MEETING ITS OBLIGATIONS ESTABLISHED PURSUANT TO SUBDIVISION TWO OF THIS SECTION. THE COMMISSION SHALL ESTABLISH AN ANNUAL REPORTING OBLIGATION AND PROC- ESS FOR ELECTRIC DISTRIBUTION COMPANIES FOR THE PURPOSE OF COLLECTING THE INFORMATION NECESSARY FOR THE COMMISSION TO FULFILL ITS OBLIGATIONS PURSUANT TO THIS SUBDIVISION. (B) EACH REPORT THAT SHALL BE SUBMITTED PURSUANT TO THIS SUBDIVISION SHALL INCLUDE, BUT NOT BE LIMITED TO, FOR EACH ELECTRIC DISTRIBUTION COMPANY: (I) THE NUMBER OF SRECS ASSOCIATED WITH QUALIFIED SOLAR ENERGY GENERATION PROCURED DURING THE PREVIOUS CALENDAR YEAR; (II) THE NUMBER OF SUCH SRECS EACH ASSOCIATED WITH SMALL RETAIL DISTRIBUTED SOLAR ENERGY GENERATION AND RETAIL DISTRIBUTED SOLAR ENERGY GENERATION PRODUCED BY EQUIPMENT OF ANY SIZE PROCURED DURING THE PREVIOUS CALENDAR YEAR; (III) THE NUMBER OF SUCH SRECS PROCURED THROUGH SOLAR PURCHASE AGREEMENTS AND THE ELECTRIC DISTRIBUTION COMPANY'S OWNERSHIP OF QUALIFIED SOLAR ENERGY GENERATION EQUIPMENT, RESPECTIVELY, DURING THE PREVIOUS CALENDAR YEAR; (IV) THE AMOUNT, IF ANY, OF ALTERNATIVE COMPLIANCE PAYMENTS MADE DURING THE PREVIOUS CALENDAR YEAR; (V) THE AMOUNT PAID TO QUALIFIED SOLAR ENER- GY GENERATORS THROUGH TARIFFS ESTABLISHED PURSUANT TO SUBDIVISION SEVEN OF THIS SECTION DURING THE PREVIOUS CALENDAR YEAR FOR SRECS ASSOCIATED WITH SMALL RETAIL DISTRIBUTED SOLAR ENERGY GENERATION; AND (VI) THE CUMULATIVE TOTAL ASSOCIATED WITH EACH PIECE OF INFORMATION DELINEATED IN SUBPARAGRAPHS (I) THROUGH (V) OF THIS PARAGRAPH SINCE THE EFFECTIVE DATE OF THIS SECTION. S 4. Section 1005 of the public authorities law is amended by adding a new subdivision 17 to read as follows: 17. A. FOR THE PURPOSES OF THIS SUBDIVISION, THE FOLLOWING TERMS SHALL HAVE THE FOLLOWING MEANINGS: (1) "PHOTOVOLTAIC DEVICE" MEANS A SYSTEM OF COMPONENTS THAT GENERATES ELECTRICITY FROM INCIDENT SUNLIGHT BY MEANS OF THE PHOTOVOLTAIC EFFECT, WHETHER OR NOT THE DEVICE IS ABLE TO STORE THE ENERGY PRODUCED FOR LATER USE; (2) "QUALIFIED SOLAR ENERGY GENERATOR" MEANS THE OWNER OF A PHOTOVOL- TAIC DEVICE OR DEVICES THAT PRODUCES QUALIFIED SOLAR ENERGY GENERATION; (3) "QUALIFIED SOLAR ENERGY GENERATION" MEANS POWER GENERATED BY A PHOTOVOLTAIC DEVICE THAT IS PLACED IN SERVICE WITHIN THE JURISDICTIONAL BOUNDARIES OF THE STATE OF NEW YORK AFTER THE EFFECTIVE DATE OF THIS SUBDIVISION; (4) "RETAIL DISTRIBUTED SOLAR ENERGY GENERATION" MEANS QUALIFIED SOLAR ENERGY GENERATION PRODUCED BY A PHOTOVOLTAIC DEVICE THAT IS LOCATED ON THE CUSTOMER SIDE OF THE ELECTRIC DISTRIBUTION COMPANY METER AND IS INTERCONNECTED TO THE DISTRIBUTION SYSTEM; (5) "SMALL RETAIL DISTRIBUTED SOLAR ENERGY GENERATION" MEANS RETAIL DISTRIBUTED SOLAR ENERGY GENERATION PRODUCED BY A PHOTOVOLTAIC DEVICE THAT IS EQUAL TO OR LESS THAN FIFTY KILOWATTS IN SIZE; (6) "SOLAR PURCHASE AGREEMENT" MEANS AN AGREEMENT, FOR A MINIMUM OF FIFTEEN YEARS, FOR THE PURCHASE OF SRECS FROM A QUALIFIED SOLAR ENERGY GENERATOR; AND
(7) "SOLAR RENEWABLE ENERGY CREDIT" OR "SREC" MEANS THE ENVIRONMENTAL ATTRIBUTES ASSOCIATED WITH ONE MEGAWATT-HOUR OF QUALIFIED SOLAR ENERGY GENERATION. B. (1) THE AUTHORITY SHALL PROCURE, AT MINIMUM, SRECS ASSOCIATED WITH GIGAWATT-HOURS OF QUALIFIED SOLAR ENERGY GENERATION IN ACCORDANCE WITH THE FOLLOWING SCHEDULE: 2012 103.2 GWH 2013 118.7 GWH 2014 134.2 GWH 2015 154.8 GWH 2016 180.6 GWH 2017 206.4 GWH 2018 232.2 GWH 2019 283.8 GWH 2020 335.4 GWH 2021 387.0 GWH 2022 490.2 GWH 2023 619.2 GWH 2024 799.8 GWH 2025 1,032.0 GWH (2) AT LEAST TWENTY PERCENT OF THE ANNUAL OBLIGATION ESTABLISHED IN THIS PARAGRAPH SHALL BE MET THROUGH THE PROCUREMENT OF SRECS ASSOCIATED WITH SMALL RETAIL DISTRIBUTED SOLAR ENERGY GENERATION; AND AT LEAST AN ADDITIONAL THIRTY PERCENT OF THE ANNUAL OBLIGATION ESTABLISHED IN THIS PARAGRAPH SHALL BE MET THROUGH THE PROCUREMENT OF SRECS ASSOCIATED WITH RETAIL DISTRIBUTED SOLAR ENERGY GENERATION PRODUCED BY EQUIPMENT OF ANY SIZE. (3) OBLIGATIONS FOR THE PROCUREMENT OF SRECS ASSOCIATED WITH QUALIFIED SOLAR ENERGY GENERATION SHALL CONTINUE UNTIL ALL EXISTING SOLAR PURCHASE AGREEMENTS HAVE EXPIRED. (4) THE AUTHORITY MAY MEET ITS OBLIGATIONS ESTABLISHED IN THIS PARA- GRAPH THROUGH THE PROCUREMENT OF SRECS OR A COMBINATION OF SRECS AND SOLAR ENERGY. C. (1) NO LATER THAN JULY FIRST, TWO THOUSAND ELEVEN, THE AUTHORITY SHALL SUBMIT TO THE GOVERNOR, SPEAKER OF THE ASSEMBLY, MAJORITY LEADER OF THE SENATE, AND CHAIRS OF THE SENATE AND ASSEMBLY ENERGY COMMITTEES, AND SHALL POST ON ITS WEB SITE, A SOLAR SOLICITATION PLAN THAT SHALL INCLUDE A TIMETABLE AND METHODOLOGY FOR SOLICITING PROPOSALS FOR SRECS ASSOCIATED WITH QUALIFIED SOLAR ENERGY GENERATION OTHER THAN SMALL RETAIL DISTRIBUTED SOLAR ENERGY GENERATION, FOR THE PURPOSE OF FULFILL- ING ITS OBLIGATIONS ESTABLISHED IN PARAGRAPH B OF THIS SUBDIVISION. (2) THE AUTHORITY SHALL EXECUTE ITS SOLICITATION PLAN AND SHALL SUBMIT TO THE GOVERNOR, SPEAKER OF THE ASSEMBLY, MAJORITY LEADER OF THE SENATE, AND CHAIRS OF THE SENATE AND ASSEMBLY ENERGY COMMITTEES, AND SHALL POST ON ITS WEB SITE, ITS SOLAR PROCUREMENT PLAN COMPRISED OF ANY SOLAR PURCHASE AGREEMENTS FOR SRECS ASSOCIATED WITH QUALIFIED SOLAR ENERGY GENERATION OTHER THAN SMALL RETAIL DISTRIBUTED SOLAR ENERGY GENERATION. (3) NO LATER THAN JULY FIRST, TWO THOUSAND ELEVEN, THE AUTHORITY SHALL SUBMIT TO THE GOVERNOR, SPEAKER OF THE ASSEMBLY, MAJORITY LEADER OF THE SENATE, AND CHAIRS OF THE SENATE AND ASSEMBLY ENERGY COMMITTEES, AND SHALL POST ON ITS WEB SITE, A PLAN FOR THE ACHIEVEMENT OF ITS OBLIGATION PERTAINING TO THE PROCUREMENT OF SRECS ASSOCIATED WITH SMALL RETAIL DISTRIBUTED SOLAR ENERGY GENERATION ESTABLISHED IN PARAGRAPH B OF THIS SUBDIVISION. D. (1) NO LATER THAN JULY FIRST, TWO THOUSAND THIRTEEN, AND NO LATER THAN JULY FIRST OF EACH YEAR THEREAFTER THROUGH THE YEAR TWO THOUSAND
TWENTY-SIX, THE AUTHORITY SHALL REPORT TO THE GOVERNOR, SPEAKER OF THE ASSEMBLY, MAJORITY LEADER OF THE SENATE, AND CHAIRS OF THE SENATE AND ASSEMBLY ENERGY COMMITTEES, AND SHALL POST ON ITS WEB SITE, A REPORT REGARDING ITS PROGRESS IN MEETING ITS OBLIGATIONS ESTABLISHED IN PARA- GRAPH B OF THIS SUBDIVISION. (2) EACH REPORT THAT SHALL BE SUBMITTED PURSUANT TO THIS PARAGRAPH SHALL INCLUDE, BUT NOT BE LIMITED TO: (I) THE NUMBER OF SRECS ASSOCIATED WITH QUALIFIED SOLAR ENERGY GENERATION PROCURED BY THE AUTHORITY DURING THE PREVIOUS CALENDAR YEAR; (II) THE NUMBER OF SUCH SRECS EACH ASSOCI- ATED WITH SMALL RETAIL DISTRIBUTED SOLAR ENERGY GENERATION AND RETAIL DISTRIBUTED SOLAR ENERGY GENERATION PRODUCED BY EQUIPMENT OF ANY SIZE PROCURED DURING THE PREVIOUS CALENDAR YEAR; (III) THE NUMBER OF SUCH SRECS PROCURED THROUGH SOLAR PURCHASE AGREEMENTS AND THE AUTHORITY'S OWNERSHIP OF QUALIFIED SOLAR ENERGY GENERATION EQUIPMENT, RESPECTIVELY, DURING THE PREVIOUS CALENDAR YEAR; AND (IV) THE CUMULATIVE TOTAL ASSOCI- ATED WITH EACH PIECE OF INFORMATION DELINEATED IN CLAUSES (I) THROUGH (III) OF THIS SUBPARAGRAPH SINCE THE EFFECTIVE DATE OF THIS SUBDIVISION. S 5. Sections 1020-hh, 1020-ii and 1020-jj of the public authorities law as renumbered by chapter 433 of the laws of 2009, are renumbered sections 1020-ii, 1020-jj and 1020-kk respectively and a new section 1020-hh is added to read as follows: S 1020-HH. PROCUREMENT OF SOLAR RENEWABLE ENERGY CREDITS. 1. DEFI- NITIONS. AS USED IN THIS SECTION: (A) "PHOTOVOLTAIC DEVICE" MEANS A SYSTEM OF COMPONENTS THAT GENERATES ELECTRICITY FROM INCIDENT SUNLIGHT BY MEANS OF THE PHOTOVOLTAIC EFFECT, WHETHER OR NOT THE DEVICE IS ABLE TO STORE THE ENERGY PRODUCED FOR LATER USE; (B) "QUALIFIED SOLAR ENERGY GENERATOR" MEANS THE OWNER OF A PHOTOVOL- TAIC DEVICE OR DEVICES THAT PRODUCES QUALIFIED SOLAR ENERGY GENERATION; (C) "QUALIFIED SOLAR ENERGY GENERATION" MEANS POWER GENERATED BY A PHOTOVOLTAIC DEVICE THAT IS PLACED IN SERVICE WITHIN THE JURISDICTIONAL BOUNDARIES OF THE STATE OF NEW YORK AFTER THE EFFECTIVE DATE OF THIS SECTION; (D) "RETAIL DISTRIBUTED SOLAR ENERGY GENERATION" MEANS QUALIFIED SOLAR ENERGY GENERATION PRODUCED BY A PHOTOVOLTAIC DEVICE THAT IS LOCATED ON THE CUSTOMER SIDE OF THE ELECTRIC DISTRIBUTION COMPANY METER AND IS INTERCONNECTED TO THE DISTRIBUTION SYSTEM; (E) "SMALL RETAIL DISTRIBUTED SOLAR ENERGY GENERATION" MEANS RETAIL DISTRIBUTED SOLAR ENERGY GENERATION PRODUCED BY A PHOTOVOLTAIC DEVICE THAT IS EQUAL TO OR LESS THAN FIFTY KILOWATTS IN SIZE; (F) "SOLAR PURCHASE AGREEMENT" MEANS AN AGREEMENT, FOR A MINIMUM OF FIFTEEN YEARS, FOR THE PURCHASE OF SRECS FROM A QUALIFIED SOLAR ENERGY GENERATOR; AND (G) "SOLAR RENEWABLE ENERGY CREDIT" OR "SREC" MEANS THE ENVIRONMENTAL ATTRIBUTES ASSOCIATED WITH ONE MEGAWATT-HOUR OF QUALIFIED SOLAR ENERGY GENERATION. 2. (A) THE AUTHORITY SHALL PROCURE, AT MINIMUM, SRECS ASSOCIATED WITH GIGAWATT-HOURS OF QUALIFIED SOLAR ENERGY GENERATION IN ACCORDANCE WITH THE FOLLOWING SCHEDULE: 2012 51.6 GWH 2013 77.4 GWH 2014 103.2 GWH 2015 129.0 GWH 2016 154.8 GWH 2017 180.6 GWH 2018 206.4 GWH
2019 258.0 GWH 2020 309.6 GWH 2021 387.0 GWH 2022 490.2 GWH 2023 619.2 GWH 2024 799.8 GWH 2025 1,032.0 GWH (B) AT LEAST TWENTY PERCENT OF THE ANNUAL OBLIGATION ESTABLISHED IN THIS SUBDIVISION SHALL BE MET THROUGH THE PROCUREMENT OF SRECS ASSOCI- ATED WITH SMALL RETAIL DISTRIBUTED SOLAR ENERGY GENERATION; AND AT LEAST AN ADDITIONAL THIRTY PERCENT OF THE ANNUAL OBLIGATION ESTABLISHED IN THIS SUBDIVISION SHALL BE MET THROUGH THE PROCUREMENT OF SRECS ASSOCI- ATED WITH RETAIL DISTRIBUTED SOLAR ENERGY GENERATION PRODUCED BY EQUIP- MENT OF ANY SIZE. (C) OBLIGATIONS FOR THE PROCUREMENT OF SRECS ASSOCIATED WITH QUALIFIED SOLAR ENERGY GENERATION SHALL CONTINUE UNTIL ALL EXISTING SOLAR PURCHASE AGREEMENTS HAVE EXPIRED. (D) THE AUTHORITY MAY MEET ITS OBLIGATIONS ESTABLISHED IN THIS SUBDI- VISION THROUGH THE PROCUREMENT OF SRECS OR A COMBINATION OF SRECS AND SOLAR ENERGY. 3. (A) NO LATER THAN JULY FIRST, TWO THOUSAND ELEVEN, THE AUTHORITY SHALL SUBMIT TO THE GOVERNOR, SPEAKER OF THE ASSEMBLY, MAJORITY LEADER OF THE SENATE, AND CHAIRS OF THE SENATE AND ASSEMBLY ENERGY COMMITTEES, AND SHALL POST ON ITS WEB SITE, A SOLAR SOLICITATION PLAN THAT SHALL INCLUDE A TIMETABLE AND METHODOLOGY FOR SOLICITING PROPOSALS FOR SRECS ASSOCIATED WITH QUALIFIED SOLAR ENERGY GENERATION OTHER THAN SMALL RETAIL DISTRIBUTED SOLAR ENERGY GENERATION, FOR THE PURPOSE OF FULFILL- ING ITS OBLIGATIONS ESTABLISHED IN SUBDIVISION TWO OF THIS SECTION. (B) THE AUTHORITY SHALL EXECUTE ITS SOLICITATION PLAN AND SHALL SUBMIT TO THE GOVERNOR, SPEAKER OF THE ASSEMBLY, MAJORITY LEADER OF THE SENATE, AND CHAIRS OF THE SENATE AND ASSEMBLY ENERGY COMMITTEES, AND SHALL POST ON ITS WEB SITE, ITS SOLAR PROCUREMENT PLAN COMPRISED OF ANY SOLAR PURCHASE AGREEMENTS FOR SRECS ASSOCIATED WITH QUALIFIED SOLAR ENERGY GENERATION OTHER THAN SMALL RETAIL DISTRIBUTED SOLAR ENERGY GENERATION. (C) NO LATER THAN JULY FIRST, TWO THOUSAND ELEVEN, THE AUTHORITY SHALL SUBMIT TO THE GOVERNOR, SPEAKER OF THE ASSEMBLY, MAJORITY LEADER OF THE SENATE, AND CHAIRS OF THE SENATE AND ASSEMBLY ENERGY COMMITTEES, AND SHALL POST ON ITS WEB SITE, A PLAN FOR THE ACHIEVEMENT OF ITS OBLIGATION PERTAINING TO THE PROCUREMENT OF SRECS ASSOCIATED WITH SMALL RETAIL DISTRIBUTED SOLAR ENERGY GENERATION ESTABLISHED IN SUBDIVISION TWO OF THIS SECTION. 4. NO LATER THAN JANUARY FIRST, TWO THOUSAND ELEVEN, THE AUTHORITY SHALL ESTABLISH A TARIFF THAT IT SHALL PAY TO APPLICABLE QUALIFIED SOLAR ENERGY GENERATORS WITH WHICH THE AUTHORITY ENTERS INTO SOLAR PURCHASE AGREEMENTS FOR THE PROCUREMENT OF SRECS ASSOCIATED WITH SMALL RETAIL DISTRIBUTED SOLAR ENERGY GENERATION FOR THE PURPOSE OF ACHIEVING THE AUTHORITY'S OBLIGATIONS PERTAINING TO SRECS ASSOCIATED WITH SUCH GENER- ATION ESTABLISHED IN SUBDIVISION TWO OF THIS SECTION. THE AUTHORITY SHALL ESTABLISH A SEPARATE TARIFF FOR THE PROCUREMENT OF SRECS ASSOCI- ATED WITH SMALL RETAIL DISTRIBUTED SOLAR ENERGY GENERATION THAT IS PRODUCED BY BUILDING INTEGRATED PHOTOVOLTAIC EQUIPMENT, WHICH SHALL BE EQUIVALENT TO ONE HUNDRED TWENTY-FIVE PERCENT OF THE TARIFF APPLICABLE TO SRECS ASSOCIATED WITH OTHER SOURCES OF SMALL RETAIL DISTRIBUTED SOLAR ENERGY GENERATION. THE AUTHORITY SHALL REVIEW SUCH TARIFFS EVERY TWO YEARS AND ADJUST AS NECESSARY TO ACHIEVE ITS OBLIGATIONS PERTAINING TO
SRECS ASSOCIATED WITH SMALL RETAIL DISTRIBUTED SOLAR ENERGY GENERATION ESTABLISHED IN SUBDIVISION TWO OF THIS SECTION. 5. (A) NO LATER THAN JULY FIRST, TWO THOUSAND THIRTEEN, AND NO LATER THAN JULY FIRST OF EACH YEAR THEREAFTER THROUGH THE YEAR TWO THOUSAND TWENTY-SIX, THE AUTHORITY SHALL REPORT TO THE GOVERNOR, SPEAKER OF THE ASSEMBLY, MAJORITY LEADER OF THE SENATE, AND CHAIRS OF THE SENATE AND ASSEMBLY ENERGY COMMITTEES, AND SHALL POST ON ITS WEB SITE, A REPORT REGARDING ITS PROGRESS IN MEETING ITS OBLIGATIONS ESTABLISHED IN SUBDI- VISION TWO OF THIS SECTION. (B) EACH REPORT THAT SHALL BE SUBMITTED PURSUANT TO THIS SUBDIVISION SHALL INCLUDE, BUT NOT BE LIMITED TO: (I) THE NUMBER OF SRECS ASSOCIATED WITH QUALIFIED SOLAR ENERGY GENERATION PROCURED BY THE AUTHORITY DURING THE PREVIOUS CALENDAR YEAR; (II) THE NUMBER OF SUCH SRECS EACH ASSOCI- ATED WITH SMALL RETAIL DISTRIBUTED SOLAR ENERGY GENERATION AND RETAIL DISTRIBUTED SOLAR ENERGY GENERATION PRODUCED BY EQUIPMENT OF ANY SIZE PROCURED DURING THE PREVIOUS CALENDAR YEAR; (III) THE NUMBER OF SUCH SRECS PROCURED THROUGH SOLAR PURCHASE AGREEMENTS AND THE AUTHORITY'S OWNERSHIP OF QUALIFIED SOLAR ENERGY GENERATION EQUIPMENT, RESPECTIVELY, DURING THE PREVIOUS CALENDAR YEAR; (IV) THE AMOUNT PAID TO QUALIFIED SOLAR ENERGY GENERATORS FOR SRECS ASSOCIATED WITH SMALL RETAIL DISTRIB- UTED SOLAR ENERGY GENERATION THROUGH THE TARIFFS ESTABLISHED PURSUANT TO SUBDIVISION FOUR OF THIS SECTION DURING THE PREVIOUS CALENDAR YEAR; AND (V) THE CUMULATIVE TOTAL ASSOCIATED WITH EACH PIECE OF INFORMATION DELINEATED IN SUBPARAGRAPHS (I) THROUGH (IV) OF THIS PARAGRAPH SINCE THE EFFECTIVE DATE OF THIS SECTION. S 6. This act shall take effect immediately.

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