New York State to increase incentives for commercial, industrial solar projects

New York State to increase incentives for commercial, industrial solar projects

Source: Daily Energy Insider

The New York State Energy Research and Development Authority (NYSERDA) is offering more incentives to support commercial and industrial solar projects in the state.

The authority is doing this by redesigning the NY-Sun Megawatt Block incentive program. The redesign would expand the incentives to support larger solar projects and encourage the development in more locations. The program supports Gov. Andrew M. Cuomo’s plan to have 50 percent of the state’s electricity come from renewable resources by 2030.

“Solar energy is a key component of Governor Cuomo’s nation-leading commitment to 50 percent renewable energy by 2030, and the NY-Sun initiative redesign will help ensure we keep the momentum going in New York’s fast-growing solar market,” Alicia Barton, president and CEO of NYSERDA, said. “New solar projects are being constructed across the state faster than ever before, bringing clean energy and solar jobs to communities in every region of New York.”

NY-Sun is Cuomo’s $1 billion initiative to advance the solar industry in the state. Solar energy in New York State has increased more than 1,000 percent and leveraged nearly $2.8 billion in private investments since 2011. Further, there are more than 12,000 people working in solar jobs across New York.

The Megawatt Block program has supported 652 megawatts of completed projects since it was introduced in 2014 with another 979 megawatts currently under development. It is divided into three regions across New York: Long Island, the Consolidated Edison service territory, and Upstate.

The redesign encourages new projects by accelerating payments and providing new financial incentive “adders.” Development will now be encouraged in limited use areas, such as on brownfield or landfill sites, rooftop or parking canopies, and at affordable housing sites. The revisions also increase the project size limit to 750 kilowatts from 200 kilowatts.