New York City offers millions for rooftop solar

Wednesday, January 18, 2012 @ 09:01 AM
posted by rene5432

New York City hopes to become the next big center for solar electricity, with a new program designed to promote solar power installations on buildings across the city, according to PV Magazine.

The program stems from cooperation between two of the state's most important energy regulatory bodies, the New York State Energy Research and Development Authority and the New York Public Service Commission.

The two agencies have committed to spend $150 million over the next five years to support the addition of solar power systems to larger buildings with high electricity demand. The reasoning behind this approach is that by encouraging businesses and places with high electricity needs to invest in solar it reduces the potential for overloading the grid when there is too much unused solar electricity.

Already the program has committed $30 million to 15 different businesses around the city, from solar companies to department stores.

"The enthusiastic response to our solicitation confirms the important contribution that solar technology can play in addressing the energy, environmental, and reliability needs of the metropolitan New York City area," Francis Murray Jr., president and CEO of NYSERDA, said in a statement.

Solar Novus Today reports that New York Governor Andrew Cuomo announced plans to implement two new tax credit programs to further support solar power developments in the state.

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