NY A06635

Establishes the "Renewable Energy Credit Opportunity and Exchange Protection Act" allowing customer-generators to own and trade renewable energy credits (RECs) generated from qualified renewable energy sources.

Grants customer-generators full ownership rights of RECs and the unqualified right to sell or transfer them, regardless of other contracts or agreements to the contrary.

Defines qualified renewable energy generation as power generated within 15 years of receiving interconnection permission from the electric distribution company.

Permits customer-generators to register and track RECs through nine specified national tracking systems (ERCOT, MIRECS, M-RETS, NAR, NC-RETS, NEPOOL-GIS, NVTREC, PJM-GATS, WREGIS) or another authority-approved system.

Applies to customer-generators first connected to the electric system between the effective date of this section and January 1, 2033, and takes effect immediately.