A Breakdown of the Tier 4 RECS Renewable Energy Policy
Discover how the Tier 4 RECS Program will affect your business in New York City
On October 15, 2020, The State of New York’s Public Service Commission released an order that established the Tier 4 Renewable Energy Credits (RECs) program in New York City. The Tier 4 Program was created to support the Climate Leadership and Community Protection Act (CLCPA) and The New York State Clean Energy Standard state goals. The Tier 4 Program allows for purchasing RECs produced or delivered in New York City Zone J to offset building emissions under Local Law 97. As part of this program, Tier 4 was also designed to increase the availability of clean energy resources to Zone J through new renewable energy projects. Throughout 2021, NYSERDA heard proposals for multiple renewable energy projects bidding for the contract award. As of September 2021, NYSERDA selected two contracts for the Tier 4 contract awards, Clean Path New York (CPNY) and Champlain Hudson Power Express (CHPE). Before construction can begin, both projects must be approved by the New York Public Service Commission, which is expected to be completed in 2021.
Keep reading to earn more about the benefits of this renewable energy policy in New York City.