On Sept. 20, 2016, Con Edison announced the signing of a significant joint proposal that will include implementation of new energy efficiency programs, along with performance incentives that reward Con Edison’s shareholders for taking actions to save electricity. The proposal includes a 3-year, $99 million funding commitment in support of critical infrastructure investments including the advancement of smart meters, energy efficiency programs and new technologies.
The program was developed in coordination with the NYS Department of Public Service (DPS) and a broad coalition of other interested parties. It will give Con Ed’s customers greater control over their energy usage and bills, and help integrate new clean energy technology into the grid. It will also help Con Edison to meet New York’s Clean Energy Standard, which was announced in August 2016.
The NY CES will require 50% of New York's electricity to come from renewable energy sources like wind and solar by 2030. Along the way, every percent of reduction in electricity usage by means of energy efficiency will facilitate a similarly-sized reduction in the associated build-out of renewables infrastructure required to meet the standard.