New York’s renewable energy goals jeopardized by inflation, interest rates, and emissions rebound, raising environmental concerns.

New York’s climate goals are in trouble as a quarter of planned renewable projects are threatened by inflation and rising interest rates. The state is at risk of missing its near-term clean energy and climate targets, with emissions rebounding to pre-pandemic levels driven by a resurgence of power plant pollution. Environmentalists are questioning Gov. Kathy Hochul’s commitment to the state’s climate ambitions after she vetoed a bill that would allow an offshore wind project to connect to New York’s power grid on Long Island. The struggles illustrate the challenges facing liberal states as they race to green their economies. New York utility regulators rejected a request by renewable developers to adjust their power contracts to account for inflation earlier this month, which could jeopardize the future of renewable projects that were supposed to supply 24 percent of the state’S power in 2030.