BILL NUMBER: S2486A
SPONSOR: PARKER
 
PURPOSE OR GENERAL IDEA OF BILL:
AN ACT to amend the energy law, in relation to the creation of geother-
mal facilities in New York state.
 
SUMMARY OF PROVISIONS:
1. The energy law is amended by adding a new section 3-105. Geothermal
facilities. New geothermal, dry steam, flash steam, and binary cycle
plant facilities shall be created and installed on an expedited process.
2. This act shall take effect immediately.
 
JUSTIFICATION:
This Bill creates provisions to allow for an expedited process in
project creation and implementation for geothermal facilities. With
amendments to specific state law to increase the construction of new
facilities in the geothermal energy sector
* Energy Value (LBMP)
* Capacity Value (ICAP)
* Demand Reduction Value (DRV)
This Bill also outlines the direction of building new facilities safely
and retrofitting older fossil fuel facilities. Also outlining a credit
provision for geothermal companies and their hiring and retention proc-
ess during their operational standings in New York State. With a report-
ing provision that will be implanted by the outlined approved state
organizations that will enable the tracking of the cost efficiency,
energy value and the improvement in affordability while moving the State
closer towards state and federal guidelines for Net Zero goals.
 
PRIOR LEGISLATIVE HISTORY:
2024- S9006- REFERRED TO ENERGY AND TELECOMMUNICATIONS
 
FISCAL IMPLICATIONS FOR STATE AND LOCAL GOVERNMENTS:
TBD
 
EFFECTIVE DATE:
This act shall take effect immediately.