This page summarizes the results of my calculations of the observed costs of the environmental initiatives of New York Governor Andrew Cuomo in general and the Climate Leadership and Community Protection Act in particular. I also provide links to estimates by others outside the Administration as I find them.
New York Clean Energy Program Costs
The New York State Climate Leadership and Community Protection Act Costs table lists the claimed cumulative annual CO2 reductions, the cumulative expenditures and the resulting cost effectiveness for those reductions for different New York programs. Links to posts on each of these programs is included in the table too. I have calculated the emission reductions necessary to meet the CLCPA goal for a 40% reduction of GHG emissions from 1990 by 2030 and this table also lists the costs to meet that target if all the 111.13 million metric tons of CO2 equivalent reductions were made using the cost effectiveness of these NY programs.
Other CLCPA Cost Estimates
Getting Greener: Cost-Effective Options for Achieving New York’s Greenhouse Gas Goals by the Citizens Budget Commission estimates that “the cost of meeting the renewable target entirely with offshore wind will increase electricity costs by $2.3 billion annually, an increase of between 8 and 12 percent to New Yorkers’ electric bills”.
Because renewable wind and solar energy production is intermittent vast amounts of energy storage will be required. I made an estimate of the energy storage needed for 2040 and 2050 renewable energy capacity projections for a light wind night time worst-case period on Jan 3-4 2018. Using National Renewable Energy Laboratory estimates of battery operations to maximize battery life I estimated that the cost of just energy storage is $176.3 billion.
The Empire Center noted that costs for just the first phase of off-shore wind projects is substantial: “The state Energy Research Development Authority last year estimated an 800 MW offshore wind project would have $4.3 billion in capital costs followed by $109 million in annual operating costs. For the expected 9,000 megawatts, that would put the up-front price tag at more than $48 billion, followed by about $1 billion in annual operating costs.”
On September 22, 2020, the Energy & Environment Legal Institute (E&E Legal), released a state-by-state report on the capital cost associated with “electrification” for states and the nation. Although it does not directly consider costs for the CLCPA because electrification of the economy is the CLCPA goal it is relevant. The report, and its accompanying data spreadsheet, was authored by Tom Tanton, E&E Legal’s Director of Science and Technology Assessment. For New York to convert the entire economy to use electricity as a fuel the estimated costs are $119,000,000,000 to go to 100% renewable electricity; $208,000,000,000 for the transportation sector; $320,000,000,000 for direct use infrastructure; $63,000,000,000 for households; $541,000,000,000 for commercial buildings; $181,000,000,000 for on-road vehicles; and $34,000,000,000 for off road vehicles, for a grand total of $1,465,000,000,000.
Other Clean Energy Program Cost Estimates
The United Kingdom (UK) has a decarbonization target of net zero emissions by 2050 which is basically the same as New York’s 2050 goal. National Grid has developed Future Energy Scenarios (FES) that “provide transparent, holistic paths through future, uncertain energy landscapes” which translates to their guesses how the UK target can be met. The Global Warming Policy Foundation paper The Future of GB Electricity Supply found that “decarbonising the electricity system and domestic housing in the next three decades will cost over £2.3 trillion pounds. The final bill will surpass £3 trillion, or £100,000 per household, once the cost of decarbonising major emitting sectors like manufacturing, transport and agriculture are included”.