Con Edison Earns Honor as Leader in Clean Energy Transition
Smart Electric Power Alliance Says Company Is Taking Bold Actions to Make Carbon-Free Energy a Reality
Con Edison today was named a leader among U.S. energy companies for its actions to create a clean, carbon-free energy system.
The Smart Electric Power Alliance – or SEPA - said Con Edison earned a listing on its 2021 Utility Transformation Leaderboard.
SEPA, a nonprofit organization that envisions a carbon-free electric system by 2050, ranked Con Edison high for a wide range of actions, including its electric vehicles strategy, its work to connect customers who install solar panels and other clean-energy resources, and its smart meter program.
The organization gave the company high marks for linking executive compensation to sustainability, setting aggressive carbon reduction goals, innovating, and embracing emerging technologies.
“It’s humbling because so many energy companies across the country are applying their people’s talents and dedication to innovate and lead the transition to a clean energy future,” Tim Cawley, the CEO of Con Edison Inc., said in accepting the award. “It’s a source of pride because it acknowledges Con Edison’s progress in following through on our Clean Energy Commitment. We support New York’s aggressive environmental goals and we’re doing our part to help achieve them.” (See Cawley’s full remarks.)
“Con Edison stands out due to its comprehensive efforts to transition to a carbon-free energy future, and most importantly, its results," said SEPA President and CEO Julia Hamm. "The transformation to a clean and modern energy system involves much more than clean energy generation; it will require changes to almost every part of a utility’s business. We applaud Con Edison for its progress, and recognize that much work remains. The world does not have the luxury of time on carbon reduction."
Con Edison is seeking to lead the transition to a clean energy future and considers the environment in every decision it makes. Cawley said Con Edison “is partnering with our customers on this journey.”
Indeed, Con Edison customers have completed 37,000 rooftop projects with the capacity to produce 334 megawatts of clean, renewable power.
The company is working with the New York City Housing Authority, Solar One and other partners to place panels on three NYCHA developments. The project employs 12 apprentice installers who are NYCHA residents. The panels will provide discounted power to 400 low- and moderate-income subscribers.
The addition of renewables to New York State’s energy portfolio will require new transmission lines and energy storage systems. That renewable power will include 9,000 megawatts of offshore wind.
Con Edison is investing in transmission and storage. The company is working with a partner, 174 Power Global, to place a mammoth 100-megwattt battery system at the site of a former fossil fuel plant near the East River in Astoria, Queens.
The company has robust energy efficiency programs that pay customers to make energy-saving upgrades to their lighting, HVAC, and other equipment. Con Edison is seeking to triple its energy efficiency programs by 2025.
Con Edison supports electric vehicle adoption, believing that EVs will play a key role in a clean energy future. Through its PowerReady program, the company is connecting thousands of new public and customer-owned charging stations. PowerReady provides incentives to offset the electric infrastructure costs of installing chargers.
The company recently announced that in 2022 it will take delivery of the first all-electric utility bucket truck. Bucket trucks lift workers so that they can work on overhead electric lines, transformers and other equipment.
Through its Clean Energy Commitment, Con Edison wants to offer 100 percent clean electricity to customers by 2040.
The company has also cut its own carbon emissions by 50 percent since 2005.
SEPA based its rankings on responses to a survey. More than 130 companies serving 83 million utility customers responded and 10 achieved listing on the Leaderboard.
Con Edison is a subsidiary of Consolidated Edison, Inc. [NYSE: ED], one of the nation’s largest investor-owned energy companies, with approximately $12 billion in annual revenues and $63 billion in assets. The utility delivers electricity, natural gas and steam, and serves 3.5 million customers in New York City and Westchester County. Through Consolidated Edison Inc.’s subsidiary, Con Edison Clean Energy Businesses, the company is the second-largest solar developer in the United States and the seventh-largest worldwide. For financial, operations and customer service information, visit conEd.com. For energy efficiency information, visit coned.com/energyefficiency. Also, visit us on Twitter and Facebook.