NY Energy Highway gets $250M injection
As part of his Energy Highway Blueprint, which will upgrade and modernize New York's aging energy infrastructure, Governor Andrew M. Cuomo has made available $250 million for a broad range of renewable energy generation projects.
Funding will be administered by the New York State Energy Research and Development Authority (NYSERDA) through the state's Renewable Portfolio Standard (RPS), and is targeted toward electric generation projects using wind, hydroelectric, solar, biomass or other clean-energy resources.
Some of the projects include two biomass facilities, 10 landfill biogas operations, 25 hydroelectric facilities and 17 wind farms. The projects will diversify New York's renewable energy portfolio, drive the state in reducing its carbon footprint and provide economic development opportunities across the state.
"Developing renewable resources, along with our energy-efficiency efforts, provides our best hope toward ending dependency on fossil fuels, improving regional economies, reducing harmful emissions, and enabling all of us to gain greater control of our energy future," said Public Service Commission Chairman Garry Brown in a statement. He added that, "The Renewable Portfolio Standard ensures that the success of the state's renewable energy program continues unabated."
Over the next 20 years, the direct benefits from the projects currently within the RPS program are expected to approach $2.4 billion. The effects on the broader economy are estimated at more than $4.9 billion.
- see the blueprint