Governor Cuomo Launches Program to Transform New York's Solar Market

New York Governor Andrew Cuomo recently announced that the state's multiple solar programs are transitioning to the single, statewide NY-Sun Incentive Program, designed to support the solar economy through the $1 billion NY-Sun initiative, which will expand deployment of solar across the state and add more than 3,000 megawatts (MW) of solar capacity.

“Merging these programs into the NY-Sun Incentive Program will stimulate development of solar projects across this state, and sends a clear message that New York is a leader in solar energy innovation,” Governor Cuomo said. “This approach will help the industry plan for the future, spur new development and aid in New York’s transition to a cleaner, cheaper and more efficient energy grid.”

NY-Sun is part of Governor Cuomo’s commitment to protect the environment, grow the clean energy economy and lower energy costs for all New Yorkers. The plan involves deploying public funds in a strategic manner to drive industry to scale and reduce burdens on ratepayers. The program provides financial support for solar projects and uses a proven MW block system approach that is responsive to changing market conditions, allowing the solar market in each region of the state to grow at its own pace. It will eliminate incentives sooner in regions where the market conditions can support it, based on market penetration, customer demand, and payback. The program expects to add more than 3,000 MW of installed solar capacity in the State by 2023.

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Date Posted: 9/17/2014