The “Future Energy Economy Summit,” to be held on September 4-5, will bring together relevant state agencies and authorities, global and federal leaders, power producers, technical experts, labor groups, environmental groups, business groups and other interested stakeholders. The summit will explore how next generation clean energy technologies can support the establishment and expansion of commercial and industrial enterprises, as well as how the state can accelerate the deployment of dispatchable emissions-free resources that will be needed to bolster its notable and ongoing efforts to scale renewable energy.
“As we continue to bring new manufacturing and economic opportunities to New York, we're ensuring these businesses are aligned with our vision of a clean and renewable economy” said Governor Hochul. “Supporting our historic investments in renewable energy, this summit will bring together the brightest minds to explore how we can accelerate our progress, what potential roles next generation technologies can play in stimulating economic growth and jobs throughout our state, and how New York's innovation ecosystem “can support these future industries.”
The Governor has appointed New York State Energy Research and Development Authority (NYSERDA) Board Chair, Richard Kauffman, to serve as chair of the summit with contributions from leadership and staff from NYSERDA, the Department of Public Service (DPS), Empire State Development ( ESD), New York Power Authority (NYPA), Department of Environmental Conservation (DEC), Department of Health (DOH), Division of Homeland Security and Emergency Services (DHSES) and Department of Labor (DOL).
New York State anticipates greater growth in electric demand in coming years driven by historic economic development projects and the increased adoption of electrification technologies in the building and transportation sectors. Building upon New York State's unprecedented and continued commitment to scaling up and accelerating renewable energy such as offshore wind, hydropower, solar and onshore wind statewide, a key component of the summit will be gathering further input on technologies including next generation geothermal, advanced nuclear, clean hydrogen, long duration energy storage, as well as other emerging technologies.
The input received will inform State strategies in the use of these technologies to support economic development across the state and provide context for the Public Service Commission (Commission) proceeding that is investigating technologies that can help meet the 2040 zero-emissions electricity system target established through New York's Climate Act.
NYSERDA and DPS staff are currently developing technology and economic studies of diverse generation technologies that could complement the state's wide scale deployment of renewable energy and play an expanded role in a decarbonising economy. These studies will gather information and examine technologies ranging from small modular nuclear reactors to long-duration energy storage technologies to grid-forming inverters. The studies will complement the outputs from this summit and inform the State's options for future generation including through the Commission's proceeding.
This summit will address advancing key factors to develop these technologies' supply chain investments in New York, workforce opportunities, and how these investments can be leveraged to support large load growth and low-carbon economic development across New York while benefiting disadvantaged communities.
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