Governor Cuomo Announces $150 Million Available For Renewable Energy Projects
Funding Will Build and Expand Large Solar, Wind, Hydro and Other Renewable Energy Projects to Meet State Goal of 50 Percent Renewables By 2030
Governor Andrew M. Cuomo recently announced $150 million in funding to
support large-scale renewable energy projects across the state. This funding
will facilitate public-private partnerships to advance the Governor’s
Reforming the Energy Vision strategy and ensure the state meets its goal
of generating 50 percent of its electricity from carbon-free renewable
energy projects by 2030.
“This state is a national leader in combatting climate change and
with this investment, we are taking our unprecedented efforts one more
step toward a cleaner and greener New York,”
Governor Cuomo said. “This funding will advance large-scale energy projects, continue
build a clean energy economy, and generate opportunity for New Yorkers
for generations to come.”
The announcement was made by Lieutenant Governor Kathy Hochul at the semi-annual
Advanced Energy Conference held at Jacob Javits Convention Center in New
York City.
"Governor Cuomo has established the most ambitious goals for a clean
energy economy in the nation,”
Lieutenant Governor Kathy Hochul said. “By leveraging private investment, we make it possible for the next
generation of entrepreneurs and innovators to create a future defined
by renewable, sustainable energy production. We will cut costs to consumers,
create jobs and combat climate change for the coming generations."
New York State Energy and Finance Chairman Richard Kauffman said, "New York State is demonstrating what is possible when leaders
see growing the economy and protecting the environment as the same opportunity.
This $150 million investment will spur the development of renewable energy
projects across the state, create new jobs, and help achieve the Governor's
aggressive goal of 50 percent renewables by 2030."
Support for these new large-scale projects will be provided by the New
York State Energy Research and Development Authority (NYSERDA) in its
final solicitation through the Main Tier of the state's Renewable
Portfolio Standard.New York State’s future large-scale renewables
strategy through the Clean Energy Standard is now under consideration
by the Public Service Commission.
NYSERDA President and CEO John B. Rhodes said, "Large-scale renewable energy projects curb greenhouse gas emissions,
promote a cleaner environment for New Yorkers, bring jobs and an added
tax base to rural areas, and reduce electricity price volatility. By stimulating
private investment in these projects, New York State is advancing Governor
Cuomo’s bold vision for New York’s energy future.”
Public Service Commission Chair Audrey Zibelman said, "Spurring private investment in large-scale renewable energy
projects will not only increase jobs and further develop New York’s
clean-tech economy, it will also help us achieve Governor Cuomo’s
goal of significantly reducing greenhouse gas emissions throughout the
state. In this way, New York can be the catalyst for sustained, long-term
growth of renewable energy, protecting public health and improving the
environment.”
This $150 million competitive solicitation supports significant private
investment in renewable energy sources such as solar and wind, fuel cells,
biomass, renewable biogas and upgrades to hydropower projects. Contracts
will be awarded for a term of up to 20 years. More information about the
solicitation process is available at
nyserda.ny.gov/rfp3257.
For every $1 invested in Main Tier projects, New York realizes $3 in economic
benefits. More than $3 billion of direct investment in New York State
is expected as a result of existing Main Tierprojects in the form of jobs,
payments to public entities, in-state purchase of goods and services and
land leases, growth in the state’s clean energy economy and reduced
emissions.
NYSERDA's previous ten Main Tier solicitations for large-scale renewable
projects have resulted in approximately 1,849 megawatts of installed capacity
at 67 projects that will generate more than five million megawatt-hours
of renewable energy annually. NYSERDA has provided a total of $1.24 billion
for Main Tier projects previously.
As a complement to the large-scale renewables funding announcement, New
York State today launched the New York Generation Attribute Tracking System
(NYGATS), which issues certificates for all generation, including renewable
energy credits (RECs) that quantify the environmental benefits –
such as the lack of greenhouse gas emissions – from energy generation
projects. For more information on NYGATS and instructions on how to register, visit
nygats.ny.gov.
About Reforming the Energy Vision
Reforming the Energy Vision is Governor Andrew M. Cuomo’s strategy
to lead on climate change and grow New York's economy. REV is building
a cleaner, more resilient and affordable energy system for all New Yorkers
by stimulating investment in clean technologies like solar, wind, and
energy efficiency and generating 50 percent of the state's electricity
needs from renewable energy by 2030. Already, REV has driven 600 percent
growth in the statewide solar market, enabled over 105,000 low-income
households to permanently cut their energy bills with energy efficiency,
and created thousands of jobs in manufacturing, engineering, and other
clean tech sectors. REV is ensuring New York State reduces statewide greenhouse
gas emissions 40 percent by 2030 and achieves the internationally-recognized
target of reducing emissions 80 percent by 2050. To learn more about REV,
including the Governor's $5 billion investment in clean energy technology
and innovation, please visit
www.ny.gov/REV4NY and follow us at
@Rev4NY.