NY A05640

Electric corporations must surrender ownership of renewable energy credits, solar renewable energy credits, green building credits, tradeable renewable certificates, and environmental credits to customer-generators within two years of equipment installation or one year of the law's effective date, whichever is later.

Wind electric generating equipment installed by customer-generators is subject to the same credit and attribute surrender requirements as other electric generating equipment.

Public authorities are made subject to the credit surrender requirements despite exemptions from Public Service Law, ensuring they comply with provisions for residential gas, electric, and steam utility customers.

Environmental credits and attributes accrued as a result of customer-generator equipment cannot be retained by electric corporations or authorities through existing or future contracts.

The act takes effect 60 days after becoming law.