New York Governor Andrew Cuomo has announced the state's latest US$54 million investment in solar energy.
The cash from the NY-Sun initiative is expected to leverage US$120 million in private funding for 79 large-scale projects.
“New York State is leading the nation in solar energy generation, addressing climate change and growing our clean energy economy,” said Cuomo
Not only will these projects benefit our environment by reducing dependence on fossil fuels and using renewable energy, but they are also creating well-paying jobs for New Yorkers. These are necessary investments for a bright future in our state,” he added.
Awards have been made to 20 developers including SolarCity and Nautilus Solar. The latest round of support is the equivalent of US$0.84 per watt, or around 31% of the project’s total costs. The scheme’s first projects were designated US$1.30 per Watt.
Projects of more than 50kW capacity but costing less than US$3 million compete for NY-Sun funding and must have additional financing in place.
he latest round of projects will be installed on factory roofs, public buildings, colleges and private businesses.
In January, NY-Sun was designated an additional US$150 million annually for the next ten years to extending its operations to 2023.
Last month the state passed the New York Solar Bill that sets a target for 2.2GW of new solar capacity added by 2023, building on the perceived success of the NY-Sun programme
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