Con Edison calls for more solar energy projects
NEW YORK, NEW YORK - Con Edison, a unit of Consolidated Edison Inc., filed a proposal with the state of New York calling for more funds for solar energy projects in New York City.
In Con Edison's filing with the New York State Public Service Commission, it called for the development of 25 megawatts of solar energy resources in New York City by 2015. The company said this will offset about 16,000 tons of carbon dioxide emissions annually, the equivalent of taking 2,400 passenger vehicles off the road.
Con Edison suggested the state set aside $24.8 million of its renewable energy funds for smaller solar projects for residential and commercial customers in New York City.
The company is also proposing that the state set aside $4 million for a residential program for New York City and Westchester County customers to use solar energy for hot water.
"We believe that New York City, with its urban roofscape, has great potential as a center for solar power and we are confident that we can use our unique knowledge of our customers to make that a reality," said John Mucci, vice president of Engineering and Planning.
These programs would be in addition to an earlier proposal to spend $125 million over five years throughout the Con Edison service area for larger installations.
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IEA: Electricity investment surpasses oil and gas for the first time
LONDON - Investments in electricity surpassed those in oil and gas for the first time ever in 2016 on a spending splurge on renewable energy and power grids as the fall in crude prices led to deep cuts, the International Energy Agency (IEA) said.
Total energy investment fell for the second straight year by 12 per cent to US$1.7 trillion compared with 2015, the IEA said. Oil and gas investments plunged 26 per cent to US$650 billion, down by over a quarter in 2016, and electricity generation slipped 5 per cent.
"This decline (in energy investment) is attributed to two…