4:13pm

Thu June 2, 2011
Energy

Cuomo announces millions in clean energy investments

Governor Andrew Cuomo announced millions of dollars in state investments to clean energy  today.

The New York State Energy Research and Development Authority (NYSERDA) and the Public Service Commission (PSC) have  awarded $191 million to help power 17 renewable energy projects across the state, including:

  • Four wind farms
  • Four hydroelectric projects
  • Seven landfill gas-to-electricity sites
  • Two anaerobic digesters, located at dairy farms

"Clean and reliable"

Governor Cuomo says in a release that the investments will help the state be a leader when it comes to innovation and technology.

New York has one of the most ambitious and responsible renewable energy targets in the nation: 30 percent by 2015.

NYSERDA estimates that once these 17 projects are up and running, they'll produce about a million megawatt-hours of clean energy per year, which is enough to power about 145,000 homes. These initiatives are also expected to produce nearly $500 million in economic benefits over the next two decades.

"These projects represent the future of New York State and will result in a grid that is efficient, affordable, clean and reliable for generations to come," says Cuomo.

Renewable energy, new jobs

The projects are part of the state's Renewable Portfolio Standard (RPS) which is charged with meeting that 30 percent goal. Funding is awarded annually to companies on a competitive basis, based on what firms intend to charge customers for their power, and how many jobs they will create.

The RPS was created in 2004. It's funded by a surcharge on New Yorkers' power bills.

To date, the RPS has helped fund 56 large-scale renewable energy projects.