Uncommitted Megawatts Added Back to Solar Rebate Programs to Support Additional Installations
New York – December 31, 2015 – (RealEstateRama) — The New York State Energy Research and Development Authority (NYSERDA) today announced the reallocation of more than $6 million in unused funds to extend incentives available for solar projects in certain NY-Sun Solar Megawatt (MW) Block programs.
NY-Sun is Governor Andrew M. Cuomo’s $1 billion initiative to advance the scale-up of solar and move New York State closer to having a sustainable, self-sufficient solar industry.
The progress of residential and small commercial MW Blocks is approximately six to seven months ahead of schedule, reflecting the high demand for solar in New York State.
Under the MW Block program, residential, small commercial (including not-for-profits) and large commercial solar projects are eligible for incentives (rebates) that lower total project costs and support greater use of clean, sustainable solar power. The total amount of incentives available is based on a pre-established amount of energy (megawatts) designated for a specific region, which provides certainty and transparency for customers and installers. The level of incentives declines over time as the amount of megawatts allocated hits specific targets.
The MW Block regions of the State are: Upstate Region Residential, Upstate Region Small Non-Residential, Con Edison Residential, Con Edison Small Non-Residential, Long Island Region Residential, Long Island Small Non-Residential, Upstate Commercial/Industrial and Con Edison Commercial/Industrial.
Once a MW Block’s capacity is fully subscribed, all unused funds are reallocated to the current block in that region.Due to the cancellation of some projects in a region or projects whose scope or funding was changed, NY-Sun reallocated these uncommitted funds.
“I’m thrilled New Yorkers are overwhelmingly responding to the clean energy and affordability benefits, choice and opportunities from the NY-Sun initiative,” said Richard Kauffman, Chairman of Energy and Finance for New York State. “Under Governor Cuomo’s Reforming the Energy Vision strategy, New Yorkers are adding solar at a rate that exceeded 300 percent from 2011 to 2014 — twice the rate of the U.S. overall — and we expect even more growth in the coming years.”
NYSERDA President and CEO John B. Rhodes said, “NY-Sun is a critical part of Governor Cuomo’s Reforming the Energy Vision (REV), which has had great success in spurring unprecedented growth in solar across the State. The reallocation of funds will ensure an appropriate level of support is available to residential and small commercial projects in regions where funds were allocated, but not used.”
The following is a list of the individual MW Block regions where funds are being reallocated:
Upstate Residential (Block 6): increase of 4 MW to a total of 35 MW – $2 million added to current Block
Con Edison Residential (Block 5): increase of 2 MW to a total of 17 MW – $1.2 million added to current Block
Upstate Non-Residential (Block 7): increase of 5 MW to a total of 33 MW – $1.8 million added to current Block
Con Edison Non-Residential (Block 3): increase of 1.5 MW to a total of 7.5 MW – $1.035 million added to current Block
NY-Sun previously announced the addition of 18 MW for Long Island Residential (Block 4).
Long Island Non-Residential is not included in the current reallocation.
NY-Sun staff continue to monitor the MW Block regions for unused capacity and will make additional future changes as appropriate. To view the updated MW Block Incentive dashboard, visit: http://ny-sun.ny.gov/For-Installers/Megawatt-Block-Incentive-Dashboard
About Reforming the Energy Vision
Reforming the Energy Vision (REV) is New York Governor Andrew M. Cuomo’s strategy to build a clean, resilient and affordable energy system for all New Yorkers. REV is transforming New York’s energy policy with new state-wide initiatives and regulatory reforms. REV will grow the state’s clean energy economy, support innovation, ensure grid resilience, mobilize private capital, create new jobs, and increase choice and affordability for energy consumers. REV places clean, locally produced power at the very core of New York’s energy system. This protects the environment and supports the State’s goal to reduce greenhouse gas emissions by 40% while generating 50% of its electricity from renewable energy sources by 2030. Successful initiatives already launched as part of REV include NY-Sun, NY Green Bank, NY Prize, K-Solar, and a commitment to improve energy affordability for low-income communities. To learn more about REV, please visit http://www.ny.gov/REV4NY and follow us @REV4NY.
About NYSERDA
NYSERDA, a public benefit corporation, offers objective information and analysis, innovative programs, technical expertise, and support to help New Yorkers increase energy efficiency, save money, use renewable energy, and reduce reliance on fossil fuels. NYSERDA professionals work to protect the environment and create clean energy jobs. NYSERDA has been developing partnerships to advance innovative energy solutions in New York State since 1975. To learn more about NYSERDA’s programs, visit nyserda.ny.gov or follow us on Twitter, Facebook, YouTube, or Instagram.
