Additional $108 million commitment to solar industry through NY-Sun Initiative
ALBANY - An additional commitment of $108 million in funding over the next two years for residential and commercial solar energy projects under his NY-Sun initiative, bringing the New York State Energy Research and Development Authority’s (NYSERDA) total budget for the next two years to $216 million, was announced on Thursday. The funding, approved today by the Public Service Commission (PSC), addresses growing demand for clean energy throughout the State and supports the Governor’s mission to reduce the cost of solar by providing predictability and certainty to the industry and support its continued growth.
“Solar power is critical to making our environment healthier and our energy system more resilient,” Governor Andrew Cuomo said. “The funding approved today will expand the use of clean, renewable power across New York State and ensure we continue to be a national leader in solar energy. Today's announcement highlights the ongoing success of NY-Sun, attracting the economic benefits of a vibrant solar industry, creating more jobs, and reducing our dependence on fossil fuels.”
“Providing greater certainty to the solar industry will lead to reduced costs and increased deployment,” said Richard Kauffman, Chairman of Energy and Finance for New York State. “Together with the NY Green Bank and energy efficiency orders, this PSC approval reflects the underlying principles of our support for clean energy: to animate the markets and to achieve greater leverage of public funds for a cleaner and resilient economy.”
With this decision, the PSC authorizes NYSERDA to plan a transition of its current solar programs to a regional megawatt block structure that includes a longer-term schedule for incentive rebate levels that change according to a predetermined set of targets; as more megawatts are installed, the per-megawatt rebate level falls. As part of this transition, NYSERDA will continue to set aside $30 million to increase solar installations in the downstate regions. The remainder of the $108 million will be allocated based on regional budgets and market conditions.
http://www.empirestatenews.net/News2013/20131223-2.htm