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Massachusetts increases utility costs via clean energy bill

August 11, 2018

Massachusetts legislature has passed the bill, “An Act to promote a clean energy future,” which has been signed into law by Governor Charlie Baker. As part of this bill, there will be an increase in RPS charges on Massachusetts’ owners’ utility bills.

The RPS increase will be 1% in 2020, and then 2% every year through 2035. Please see the chart below that outlines this in further detail.

MA RPS increases

You can read the full H.4857 bill from the MA legislature here.

Massachusetts increases utility costs via clean energy bill

August 11, 2018 Massachusetts legislature has passed the bill, “An Act to promote a clean energy future,” which has been signed into law by Governor Charlie Baker. As part of.

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New Jersey Progresses Toward Renewable Energy Goals – Update

June 4, 2018

Updating from our recent article in April, New Jersey Governor Phil Murphy has officially signed new clean energy legislation into law. In addition to signing the expected bills, Governor Murphy also signed an executive order directing the government to compile a master plan to achieve a new goal of 100% renewable energy by 2050.

Overall, here are the main takeaways that Stanwich Energy Advisors would like to highlight about the new energy bills that have been passed:

1. Establishment of a Zero Emissions Certificate (ZEC) Program. Electricity distribution companies will be collecting these new ZEC charges from their customers.

2. Solar RECs. The bill increases solar targets in each year from 2019 through 2027, then gradually reduces the targets through 2033. These SRECs will show as new charges for New Jersey customers.

3. Class I RECS. The bill requires a 21% Class I REC target beginning in 2020, increasing to 35% by 2025, and then to 50% by 2030.

These new implementations will all result in additional costs for the energy that your building purchases. For more information about how these new bills will affect your specific buildings, please contact your Stanwich Energy advisor.

To read more about the bills that were just passed in New Jersey, please see this press release from the Office fo the Governor.

New Jersey Progresses Toward Renewable Energy Goals – Update

June 4, 2018 Updating from our recent article in April, New Jersey Governor Phil Murphy has officially signed new clean energy legislation into law. In addition to signing the expected.

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Connecticut Passes Legislation Overhauling Energy Policy

May 24, 2018

Connecticut lawmakers have recently passed a new energy bill as part of efforts to reduce greenhouse gas emissions.

Senate Bill 9, “An Act Concerning Connecticut’s Energy Future,” passed both the House and the Senate in landslide victories. Governor Dannel Malloy signed the bill into law today. The bill officially implements the 2018 Comprehensive Energy Strategy (CES) that was finalized earlier this year.

The main pieces of the legislation that could directly impact the price of energy for end-users is the increase in the Renewable Portfolio Standard (RPS) from the original 20% by 2020 to 40% by 2030. This increases the total amount of renewable energy being used in Connecticut, which can sometimes cost more than traditional energy sources. The year-by-year increases are outlined below.

CT RPS Increases

While the exact costs of these changes are not yet known, it is important to be aware of them in the coming years. Stanwich Energy Advisors will continue to monitor these changes and will update when more information is available.

You can read the full Senate Bill 9 from the ct.gov here.

Connecticut Passes Legislation Overhauling Energy Policy

May 24, 2018 Connecticut lawmakers have recently passed a new energy bill as part of efforts to reduce greenhouse gas emissions. Senate Bill 9, “An Act Concerning Connecticut’s Energy Future,”.

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New Jersey and Illinois Progress Toward Renewable Energy Goals

April 13, 2018

New Jersey and Illinois have each adopted legislation to increase their renewable energy targets.

New Jersey now aims to have the state use 35% renewable energy by 2025 and 50% by 2030. This new legislation aligns the state with the targets of New York and California; the leaders in the renewable energy space.

In addition, the New Jersey bill adds a $300M subsidy for the state’s existing nuclear power plants. This subsidy will be passed through to end-users at a rate of $.004/kWh starting in 180 days.

Illinois has also made recent progress on its renewable energy goals. The state approved a roadmap to hit their targets of 25% renewable energy by 2025. Specifically, the plan outlines procurement for distributed solar energy and also ways to offer solar energy to low-income areas. For now, it is unclear if this will affect end-users’ bottom lines.

For more information on these bills, please reference these articles from Green Tech Media: New Jersey
Illinois

New Jersey and Illinois Progress Toward Renewable Energy Goals

April 13, 2018 New Jersey and Illinois have each adopted legislation to increase their renewable energy targets. New Jersey now aims to have the state use 35% renewable energy by.

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New York City Renews Tax Credit for Customers Using Third Party Energy Suppliers

April 3, 2018

New York State has officially adopted its FY 2019 budget, and the final version comes with a pleasant surprise for property managers and building owners. The final budget maintains a popular tax exemption for properties that utilize third party energy supply companies (ESCOs). With the tax exemption, customers in New York who receive electricity and gas from an ESCO pay 4.5% on the delivery portion of their energy bill, as opposed to the full 8.875%. Preliminary drafts of Governor Cuomo’s bill terminated this tax exemption.

For more information on the New York State Budget, please visit their website at https://www.budget.ny.gov/.

New York City Renews Tax Credit for Customers Using Third Party Energy Suppliers

April 3, 2018 New York State has officially adopted its FY 2019 budget, and the final version comes with a pleasant surprise for property managers and building owners. The final.

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Clean Energy Is Now Cheaper than Traditional Energy

February 8, 2018

A recent bidding process conducted by Xcel Energy has shocked the industry as clean energy bids including wind and solar with battery storage came in cheaper than bids from traditional fuel sources.

Seeking to replace two of their existing coal power plants with renewable energy sources, Xcel received over 430 individual bids. Comparatively, a similar bidding process in 2013 received 55 bids. This boom in growth, coupled with the low prices of the bids, highlights how quickly renewable energy has advanced in the last 4 years. For more in-depth information about the results of Xcel’s solicitation, please read this article from Vox.

Energy purchasing strategies involving renewable energy have been analyzed and implemented by Stanwich Energy when advising clients on their best option. The results from Xcel’s solicitation give further credence to Stanwich’s holistic approach to the energy markets. Sometimes it can pay to look at all available options instead of only the most common ones.

For more information on incorporating renewable energy into your portfolio, contact your Stanwich Energy representative.

Clean Energy Is Now Cheaper than Traditional Energy

February 8, 2018 A recent bidding process conducted by Xcel Energy has shocked the industry as clean energy bids including wind and solar with battery storage came in cheaper than.

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