New York Bolsters Investments in Clean Energy, Power Transmission

Researched by Industrial Info Resources (Sugar Land, Texas)--The state of New York has announced a $5.3 billion Clean Energy Fund (CEF) intended to encourage renewable-energy development and research, while supporting increased energy efficiency in homes and businesses. As part of the 2015 New York State Energy Plan, CEF follows the recently announced "Reforming the Energy Vision" (REV) initiative. Industrial Info is tracking 48 renewable energy projects in New York valued at $8.44 billion.

The CEF's goals are to reduce greenhouse gas emissions 40% from 1990 levels; generate 50% of the state's power from renewable sources by 2030; and increase statewide efficiency by 600 trillion British thermal units (Btu).

REV, which recently was approved by the state's Public Service Commission, coordinates and consolidates every energy-related state agency. Supporters say REV will bring in private investment for renewable energy; improve consumer choice and affordability; and lead to regulatory changes that will promote energy efficiency, wider distribution of distributed energy resources, and a greater use of energy-management products.

Additionally, the New York Public Service Commission (PSC) is moving forward on the "Alternating Current Transmission Proceeding," which will promote transmission line upgrades within existing right of ways and the construction of new distribution substations. Supporters say it will allow electrical transmission generated in upstate New York to move to high-demand areas within the state, reducing grid congestion and consumer costs.

New York's Transmission also Gets a Jolt
Upgrading the backbone of the state transmission and distribution system was part of the "Energy Highway Blueprint" initiative and an important part of REV. Industrial Info is tracking 59 electrical transmission or distribution projects in New York valued at $2.39 billion.

"ReCharge New York" is a legislative program that provides low-cost electricity to businesses. Supporters say it will allow those businesses to grow and create jobs, while revitalizing communities. The program, administered by the New York Power Authority (NYPA), promotes economic development and has allocated more than 787 megawatts to 681 businesses.

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