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New York law helps renewables owners

New York state last month passed a law allowing owners of renewable energy facilities with rated capacities up to 2 MW to feed power excess to their needs directly into a nearby electric grid. Utilities are required by the law to compensate the owners at the going market price for power. Carol Murphy with the Alliance for Clean Energy New York says there has been a lot of pent up demand for the law from people wanting to offset their electricity consumption with their own generation, particularly because New York has good wind development potential. "There have been a few businesses with good wind sources that have been a little frustrated," says Murphy, who adds that schools and universities have also joined a growing list of groups looking to put up one or two commercial scale turbines to save on energy costs. New York's high electricity and energy prices mean that such a net metering arrangement can halve the payback period on a commercial turbine from about 12 years to between five to seven years. Ample rebates can also be added from the well funded New York State Energy Research and Development Authority, which administers the state's green energy mandate law and renewable energy credit market.

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