New York Offers $107 Million for Large Solar Power Projects
August 29, 2012
New York Governor Andrew M. Cuomo on August 9 announced that $107 million is available for a major solar power incentive program that will increase the amount of electricity generated by photovoltaic (PV) systems throughout New York. The NY-Sun Competitive PV Program, administered by the New York State Energy Research and Development Authority, seeks proposals for PV systems greater than 50 kilowatts to be installed at larger commercial and industrial customer sites.
The newly established NY-Sun Competitive PV Program will make $36.4 million available in 2012 and $70.5 million in 2013. This phase of the program is available through the end of 2013 for PV projects in New York City and upstate New York at eligible customer sites. This is an expansion of a two-year-old program that previously focused on large PV systems for the commercial, industrial, and municipal sectors exclusively in New York City, Westchester County, and the lower Hudson Valley. All projects will require co-funding to best leverage state resources with funding capped at $3 million per project. See the New York press release and the NY-Sun Competitive PV Program initiative website.
The governor also signed a series of bills on August 17 as part of the NY-Sun initiative that will make solar energy more affordable for homeowners and businesses. The new laws include statewide tax credits for the lease of solar equipment and power purchase agreements, statewide sales tax exemptions for commercial solar equipment, and an extension of the real property tax abatement in New York City for solar installations. See the New York press release.