New York state is at the forefront in the United States and also high on the list globally in setting ambitious targets for the transition to renewable electricity, with 70% of generation mandated to be renewable by 2030. The consequences of the associated drastic shift from conventional steam generators to a mix of wind, photovoltaic, and hydroelectric (supplemented by pumped hydro storage to ensure dispatchability) are analyzed herein from the joint points of view of life‐cycle assessment (LCA) and net energy analysis (NEA). Results indicate that not only is the target effective at drastically reducing the grid mix's carbon emissions and halving its cumulative demand for imported nonrenewable primary energy, but—contrary to often voiced concerns—it is also compatible with sustaining the current level of net energy delivery (after accounting for the energy investments required to deploy and operate all generators).