NYSERDA Funding Renewable Energy Projects in New York

Wind Energy in New YorkThe Renewable Portfolio Standard (RPS) of New York will support the distribution of $250 million through the New York State Energy Research and Development Authority (NYSERDA) and the Public Service Commission for the development of a large variety of renewable energy generation projects in New York State.

The monies will be awarded through a competitive process to determine which ideas are most promising in the generation of electricity through alternative sources of energy such as wind power, hydroelectric, biomass and other innovative, clean sources. The projects will be informed if they are chosen to receive the awards by this coming April.

The NYSERDA has in the past awarded funding to 39 large-scale renewable energy generators. These generators are predicted to produce 4.3 million megawatt-hours of renewable and clean energy every year. Included among those 39 are 14 wind farms, 21 hydroelectric upgrades, three biomass facilities, and one landfill bio-gas plant.

New York State’s RPS program has had great success pulling in investments in clean energy and help New York to diversify the in-state power resources. For instance, today wind power electricity generation is 25 times greater than what there was before the RPS program got underway. In 2010, due to the success of the RPS program, New York was ranked number one in the Northeast and eighth in the country for installed wind capacity.

“This renewable energy program has been a key element for obtaining a more diversified energy portfolio for New York State, as well as helping to create much-needed clean energy jobs,” said Garry Brown, Public Service Commission Chairman.

The competitive solicitation was released by the NYSERDA in January, and has already listed on its web site the schedule for future solicitations. The expectation is that the RPS will be funding renewable energy projects for at least the next several years.