New York Launches Energy Efficiency Portfolio Standard

On June 23, 2008, the New York Public Service Commission approved the Energy Efficiency Portfolio Standard (EEPS).  The EEPS will reduce electricity consumption 15 percent below projected levels by 2015, equivalent to a 7.5 percent reduction from current levels.  In contrast, if existing trends continue unabated, electricity use in 2015 in New York is expected to increase by 11 percent.

The EEPS will stimulate investment in energy efficiency by promoting currently available technologies, such as compact fluorescent light bulbs, solar hot water heaters, and insulating wraps for hot water tanks.  It also authorizes incentives to encourage the purchase of energy efficient appliances, such as boilers, furnaces, air conditioners, and clothes washers.  In addition, the EEPS will provide weatherization services for low-income households, energy retrofits for small businesses.

Press Release
Order establishing EEPS
State Energy Efficiency Resource Standards