09.04.2015: The New York Public Service Commission (NYSERDA) will invest a further $160 million to support the development of large-scale renewable energy power plants. The funds will be allocated to support wind, solar, hydroelectric power plants and »will be administered competitively.« The initiative is part of the state’s Reforming the Energy Vision (REV) strategy. The funds will be allocated by NYSERDA through the Main Tier of the State's Renewable Portfolio Standard (RPS). Under the previous nine RPS Main Tier solicitations, NYSERDA allocated approximately 2 GW of renewable energy capacity. New York Governor Andrew Cuomo announced that New York's multiple solar programs transitioned to the single, statewide NY-Sun Incentive Program in July 2014. The $1 billion NY-Sun initiative is designed to support New York’s solar economy. The program aims to significantly expand deployment of solar across the state, add more than 3 GW to the state’s solar capacity and ultimately transform New York’s solar market into a self-sustaining industry. In April 2014, the New York Public Service Commission authorized nearly $1 billion of new funding for the NY-Sun initiative and approved a new program whose aim is to add 3 GW of new solar capacity across New York between 2016 and 2023. The funding provides the NY-Sun initiative with long-term, stable funding over a 10-year period to support PV projects throughout the state, including the 3 GW »Megawatt Block« program. Without the new funding, the NY-Sun’s various solar programs would have ended at the end of next year. © PHOTON
Monty Bannerman
ArcStar Energy
+1-646-402-5076
www.arcstarenergy.com
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