Buffalo, N.Y. (WBEN) - Be forewarned.
That's the word from a just-released memo by the New York State Energy Research & Development Authority (NYSERDA) after it analyzed the potential fiscal impact green energy mandates could have on the average Upstate New York homeowner, including those in the Buffalo-Niagara region.
The NYSERDA memo says that by 2031 - just five years from now - the average Upstate homeowner could be looking at annual increases in their gas and oil bills by as much as $4,100.
And gallons of gas could top $5 a gallon.
"New York says the energy mandates will make things more affordable but it is doing just the opposite," said Rob Ortt, State Senate Minority Leader with WBEN. "New York is becoming more expensive and less affordable."
There are fears that rising utility costs - once an after thought - may become a fiscal swing factor and prevent some homebuyers from entering the market.
Homeowners and homebuyers are now factoring utility costs in the same manner that they pencil out mortgage and insurance costs, said Rosalind Bergin, MMB Realty co-founder and former Buffalo Niagara Association of Realtors president.
"I get asked, what's my [utility] bill going to be," Bergin said.
Green energy has emerged as a major political and economic talking point.
In recent days, the Republican minority members of the Erie County Legislature proposed a bill that would allow the county to make its own energy decisions and not rely on Albany.
Also, Assemblyman Paul Bologna has proposed a series of bills that would give municipalities more options when it comes to green energy mandates and also calling for a freeze on taxes and fees attached to monthly utility bills.
"What we are seeing now is outside the norm," Ortt said. "People are frustrated and concerned."
Related
