NYSERDA Gets US $10M in Stimulus Funds for PV

The New York State Energy Research and Development Authority (NYSERDA) announced that $10 million in American Recovery and Reinvestment Act (ARRA) funding has been awarded to allow seven solar energy companies to install solar photovoltaic systems (PV) on homes and businesses throughout New York State.

It is anticipated that ARRA funded residential and non-residential PV projects will add approximately six megawatts of clean renewable capacity at a weighted average incentive of $1.60 per watt of electricity. Over 600 homes and many businesses will have PV installed over the next two years.

These funds will support the continued growth of New York’s clean energy economy and help New York meet Governor David Paterson’s goals of achieving 45 percent of our energy needs through renewable energy and improved energy efficiency by 2015.

“The award of this federal grant is testament to New York’s continued commitment from all sectors to expand solar energy production, reduce our carbon footprint, and build our clean energy economy,” Governor Paterson said. “I applaud President Obama and the entire Congressional delegation for working to make this critical funding available.”

Demand for PV systems in New York State has been growing steadily since 2003. In 2009, applications for NYSERDA’s PV incentives more than doubled over the prior year to $61 million. These incentives, funded through the Renewable Portfolio Standard (RPS) have benefited 882 residents, 235 businesses, and 204 non-profit institutions.

The seven companies were competitively selected. They include Alteris Renewables Inc., Hudson Valley Clean Energy Inc., Global Resource Options, Solar Energy Systems and Tioga Energy.

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