NY A10484

Authorizes regulated electric utility corporations to own and operate large-scale renewable energy generation facilities in New York State individually or in partnership with other entities.

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

Limits total utility-owned generation capacity to not exceed 25 percent of the generation capacity needed to meet New York's renewable energy goals (70% by 2030, 100% carbon-neutral by 2040).

Requires renewable energy facilities to remain in-state, use American-made structural iron and steel, be built through competitive bidding, and comply with project labor agreements and labor peace agreements.

Mandates Public Service Commission establish oversight to ensure facilities comply with all requirements and directs the Commission to commence implementation proceedings within 60 days of the act's effective date.