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New York to grant USD 40m for 50-MW of solar projects

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New York to grant USD 40m for 50-MW of solar projects


October 11 (Solar) – New York's NY-Sun programme will make USD 40 million (EUR 34.7m) available for the development of at least 50 MW of solar-plus-storage projects.

The funds, which will be granted in early November, were announced by governor Andrew Cuomo on Wednesday at the Alliance for Clean Energy – New York (ACE-NY) annual conference in Albany.

This pairing of energy storage and solar technologies can also help lower the costs to consumers as it takes advantage of expiring federal tax credits, combining the permitting and interconnection processes, and utilizes less space by co-locating on the same sites.

With a energy storage target of 1,500-MW by 2025, this initiative helps the state follow governor Cuomo's mandate that 50% of the New York's electricity come from renewable sources by 2030, the government noted.

NY-Sun is a USD-1-billion investment aimed at the creation of a self-sustaining solar market and industry in New York. The programme has already completed a total capacity of 1,203.2 MW, enough to power nearly 200,000 homes

(USD 1 = EUR 0.87)


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