New York S 9648: Establishes a registry for historic libraries and museums

Bill Text

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S09648 Summary:

BILL NOS09648 

&nbsp

SAME ASNo Same As

&nbsp

SPONSORHARCKHAM

&nbsp

COSPNSRMAY

&nbsp

MLTSPNSR

&nbsp

Amd §66-p, add Art 12 §§250 - 253, Pub Serv L; add §99-uu, St Fin L

&nbsp

Establishes a tradeable geothermal renewable energy credit compliance instrument for load serving entities.

Go to top S09648 Actions:

BILL NOS09648 

&nbsp

03/31/2026REFERRED TO ENERGY AND TELECOMMUNICATIONS

Go to topS09648 Committee&nbspVotes:

Go to topS09648 Floor&nbspVotes:

There are no Assembly votes for this bill in this legislative session.

Go to topS09648 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 9648

 IN SENATE

 March 31, 2026
 ___________

 Introduced by Sen. HARCKHAM -- read twice and ordered printed, and when
 printed to be committed to the Committee on Energy and Telecommuni-
 cations

 AN ACT to amend the public service law and the state finance law, in
 relation to geothermal renewable energy credits

 The People of the State of New York, represented in Senate and Assem-
 bly, do enact as follows:

 1 Section 1. Legislative findings and intent. 1. Buildings are New
 2 York's largest source of greenhouse gas emissions. New York has estab-
 3 lished statewide goals of 40 percent greenhouse gas emission reduction
 4 by 2030 and 85 percent by 2050.
 5 2. New York has also established an all-electric building code for
 6 most new construction.
 7 3. High-efficiency geothermal heating and cooling systems can supply
 8 efficient, affordable, and consistent year-round heating, cooling, and
 9 water heating. They are five times more efficient than cold-climate air
 10 source heat pumps.
 11 4. New York's electric grid is projected to move from peak demand
 12 during the summer to peak demand during the winter by 2036.
 13 5. Statewide energy supply deficiencies could arise as soon as winter
 14 2029-2030.
 15 6. The New York state scoping plan estimated that higher adoption of
 16 geothermal heating and cooling systems could reduce New York's system
 17 peak demand by four to twelve gigawatts compared to a scenario relying
 18 more heavily on air-source heat pumps.
 19 § 2. Paragraph (b) of subdivision 1 of section 66-p of the public
 20 service law, as amended by section 3 of part QQ of chapter 56 of the
 21 laws of 2023, is amended to read as follows:
 22 (b) "renewable energy systems" means systems that generate electricity
 23 or thermal energy through use of the following technologies: solar ther-
 24 mal, photovoltaics, on land and offshore wind, hydroelectric, geothermal
 25 electric, geothermal ground source heat, geothermal heating and cooling
 26 systems that leverage geothermal energy, tidal energy, wave energy,

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD14954-02-6

 S. 9648 2

 1 ocean thermal, and fuel cells which do not utilize a fossil fuel
 2 resource in the process of generating electricity.
 3 § 3. The public service law is amended by adding a new article 12 to
 4 read as follows:
 5 ARTICLE 12
 6 GEOTHERMAL HEATING AND COOLING
 7 Section 250. Definitions.
 8 251. Geothermal portfolio standard.
 9 252. Eligibility.
 10 253. Alternative compliance payment and program review.
 11 § 250. Definitions. For the purposes of this article the following
 12 terms shall have the following meanings:
 13 1. "Geothermal heating and cooling system" means a system that
 14 exchanges thermal energy from the ground or groundwater to leverage
 15 thermal energy through a geothermal heat pump or a system of geothermal
 16 heat pumps interconnected with any geothermal extraction system or
 17 facility that is (a) a closed loop or a series of closed loop systems in
 18 which fluid is permanently confined within a pipe or tubing and does not
 19 come in contact with the outside environment; or (b) an open loop system
 20 in which ground or surface water is circulated in an environmentally
 21 safe manner directly into the system or facility and returned to the
 22 same aquifer or surface water source.
 23 2. "Geothermal renewable energy credit" or "GREC" means a tradeable
 24 compliance instrument equal to one megawatt-hour of useful thermal heat-
 25 ing and cooling as determined under commission rules by converting BT