New York has low renewable penetration at present, but aggressive state clean energy policies will drive rapid change to the supply mix. As renewable resources supplant thermal generation, price volatility will rise and the need for capacity resources will grow as thermal generation retires and capacity markets tighten. At the same time, marginal ELCC accreditation has diminished the economic viability of storage despite the addition of an investment tax credit under the IRA. This report describes Ascend’s market outlooks for NYISO as its transition is underway.
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