The Climate Action Council was created by state law to develop a road map to meet New York’s ambitious greenhouse gas emission goals which also were established by state law. The recently unveiled scoping plan is the road map.
The state plan proposes that starting in 2030 homeowners will have to replace heating and cooling systems as the equipment ages out and requires replacement with new equipment.
For example, if you install new traditional equipment in 2025 and its lifecycle is approximately 20 years, you would need to replace it with another technology in 2045.
This is just one of many other proposals in the state’s scoping plan requires legislative approval.
There are alternatives such as geothermal and air pumps to replace your current home heating and cooling systems, but at the moment these options are costly and have been estimated to be as high as $50,000.
As part of our sustainable energy offerings, NOCO is starting to offer residential homeowners and small commercial businesses with these alternatives as we anticipate that as the technology advances, costs will come down.
There are currently significant rebates/tax credits available to homeowners to defray the costs of these systems as a result of the US Congress recently passing the Inflation Reduction Act.
Again, any ban has to be approved by the state legislature. The scoping plan proposes that starting in 2030, homeowners must replace their traditional heating and cooling equipment and appliances such as stoves and dryers with alternative energy systems.
The price you pay for the commodity delivered to your home or business by NOCO is based on market conditions. At the same time, New York’s climate plan calls for new fees and taxes on residential energy bills to pay for various proposals for the state to meet its emission goals.
It remains to be seen as some studies have indicated that these types of sources do not perform well in harsh climates and during significant weather events such as the recent blizzard to hit Western New York.
Due to recent changes to Energy Service Company (ESCO) regulations combined with rising power rates, we were unable to extend the required savings guarantee this winter. We will continue to monitor market conditions. Customers who participate in our community solar program can receive discounts on their electric utility bills.
The scoping plan impacts every facet of how we live and work. If you are interested in learning more you can read a summary of the plan or the full plan which is available at Scoping Plan – New York’s Climate Leadership and Community Protection Act (CLCPA) (ny.gov).
For now, it is business as usual as far as delivering energy products and services to your home or business. We are closely monitoring what components of the plan will ultimately be adopted and we will adjust our business accordingly. In the meantime, expect future updates from us on this matter.
For several years, NOCO has been making significant investments in renewable energies such as community solar, the installation of geothermal systems and technologies to address food waste and municipal composting. We recognize the impacts of climate change at all levels of the company. At the same time, the state has put forward a very aggressive plan with timelines that will be challenging for our business.