NY S07460

Amends Public Service Law to require the Public Service Commission to establish modifications to existing programs that encourage development of qualified fuel cell electric generating systems by January 1, 2015

Defines qualified fuel cell systems as those based on solid oxide, molten carbonate, proton exchange membrane, or phosphoric acid fuel cells that are manufactured, installed, and operated according to applicable standards and connected in parallel with electric corporation transmission and distribution facilities

Requires minimum annual expenditures of $50 million from 2015 through 2025 for the statewide program administered by the New York State Energy Research and Development Authority, with incentive structures that include competitive procurements, standing-offers, or production/capacity incentives

Directs the New York State Energy Research and Development Authority to implement a separate fuel cell incentive program in its service territory with minimum annual expenditures of $15 million from 2015 through 2025 for systems installed after January 1, 2015

Requires both programs to consider economic benefits to New York, avoid long-term transmission and distribution costs, minimize peak loads in constrained areas, and provide annual reports on program achievements and effectiveness