$48 billion in projects is set to be funded by consumers over the next two decades.
New York and other states are facing a difficult balancing act as they try to move more toward renewable energy, but are having to force consumers to pay for the projects. It might be a tough issue for Democrats heading into the 2024 elections. | John Minchillo/AP PhotoALBANY, N.Y. — A generational push to tackle climate change in New York is quickly becoming a pocketbook issue headed into 2024.
“This is bad politics. This is politics that are going to hurt all New Yorkers,” said state Sen. Mario Mattera, a Long Island Republican who has repeatedly questioned the costs of the state’s climate law and who will pay for it. But some lawmakers in New York, particularly upstate Democrats, and similar moderates across the nation are worried about moving too quickly and sparking a backlash against higher costs. The issue is another threat to Democrats heading into the critical 2024 battleground House races in New York, which will be instrumental in determining control of Congress.
The costs of the state’s renewable energy mandates are being paid for almost solely by New York residents and businesses through their electric bills. With, those costs are expected to increase while expected savings from the transition takes longer to materialize.“I’m very concerned about the cost and the impact on our ratepayers, our constituents,” said Assemblymember Didi Barrett, a Hudson Valley Democrat who chairs the chamber’s Energy Committee.
New York City “supports efforts to transform our electric system away from fossil fuels to sustainable, carbon-free technologies,” a lawyer for Mayor Eric Adams’ administration wrote in recent comments on a potential new clean energy subsidy. “However, the City is very concerned that the cost of utility service is becoming unaffordable for many New Yorkers.”
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