NY A00958

Requires electric corporations selling electricity to retail customers in New York to include minimum percentages of renewable energy in their portfolios: 30% for energy years 2021-2025 and 40% for energy year 2026, with at least 2% from solar energy starting in 2026.

Establishes renewable energy certificates (RECs) and solar renewable energy certificates (SRECs) as tradeable instruments to demonstrate compliance, with certificates representing one megawatt-hour of renewable generation and subject to permanent retirement after use.

Allows electric corporations to meet solar requirements through retirement of solar RECs or submission of solar alternative compliance payments, with payment monies refunded to ratepayers by electric distribution companies based on their proportional share of statewide electricity delivery.

Requires solar electric generating facilities to register with the Public Service Commission and meet qualification life requirements of at least 15 years from authorization to energize to generate usable solar renewable energy certificates.

Imposes annual reporting and recordkeeping requirements on electric corporations by October 1st each year, with enforcement penalties including license suspension, financial penalties, cost disallowance, and prohibition on accepting new customers for non-compliance.