NY S06497

Establishes a competitive program to promote private sector investment in at least one gigawatt of installed capacity of zero emissions energy systems using technologies operationally capable by 2030.

Requires the program to commence implementation no later than two years from the effective date and zero emissions energy systems must commence commercial operation by 2030.

Defines "zero emissions energy systems" as systems other than renewable energy that generate electricity or thermal energy without net increase in greenhouse gas emissions.

Allows the Public Service Commission to temporarily modify program obligations if it impedes safe electric service, impairs agreements, or results in significant increases in service arrears or disconnections.

Requires the commission to conduct a comprehensive review and issue a written assessment of program progress no later than three years from enactment and every two years thereafter.