NY A09531

Authorizes regulated utility corporations to own and operate renewable energy generation facilities in New York State, individually or in partnership, to support the state's goal of 70% renewable electricity by 2030 and 100% carbon-neutral by 2040.

Requires all net revenues from utility-owned renewable facilities to be provided to low-income customers as bill credits in addition to other assistance programs.

Establishes a 25% generation capacity limit on total capacity that utilities can own through this provision, subject to Public Service Commission oversight to ensure power remains in-state and is not exported.

Requires renewable energy facilities to be built through competitive third-party bidding and to comply with project labor agreements and labor peace agreements with bona fide labor organizations.

Mandates that iron and structural steel used in covered renewable energy systems be produced or made in whole or substantial part in the United States, with limited exemptions for cost or availability reasons.