Albany, NY - April 11, 2018 - Governor Andrew M. Cuomo today announced that up to $15 million is available for projects that will help New York improve the resiliency, efficiency, and overall performance of its electric grid to save on energy and costs to combat climate change. Modernizing the grid supports Governor Cuomo's initiative to deploy 1,500 megawatts of energy storage by 2025 and his requirement for half of the state's electricity to come from renewable energy sources by 2030.
"One of the most critical components in our fight against climate change is the modernization of our electric grid," Governor Cuomo said. "I encourage entrepreneurs and clean energy companies to join in New York's mission to lead the nation in protecting the planet by investing in renewable energy and help make our system more resilient against whatever Mother Nature throws our way."
The grid modernization initiative, which is administered by the New York State Energy Research and Development Authority, promotes the development of a high performing smart grid that will accommodate a diverse supply of clean energy generation resources, enhance overall electric grid performance, and enable customers to reduce their energy costs, energy consumption, and environmental impacts.
NYSERDA will award projects through a two-step competitive process. Applicants will initially submit concept papers of their proposals for a rigorous evaluation process. Based on those evaluations, a select group of applicants will be invited to submit full proposals for further evaluation. The final proposals selected will receive funding to move forward.
Concept papers will be accepted through July 18, 2018 in one of four categories: research studies, engineering studies, product development, and demonstration projects. Papers should focus on projects that will aid in developing innovative cybersecurity and data analytics or advanced planning, operations, and forecasting tools. Concept papers should also demonstrate how their proposals will advance the state's goal to have 50 percent of its electricity come from renewable resources by 2030.
The funding builds on previous solicitations issued in October 2016 which resulted in $9.6 million being awarded through 22 contracts that focus on smart grid technologies aiding in the analysis of solar interconnections and the integration of energy storage, digital solutions, and advanced sensor applications. Funding is available through the state's 10-year, $5.3 billion Clean Energy Fund. In total, $110 million is dedicated to modernizing New York's electric grid through 2022. More information about this funding is available on NYSERDA's website.
Richard Kauffman, Chairman of Energy and Finance for New York State, said, "Under Governor Cuomo, New York is rebuilding its outdated electric grid enabling it to provide clean, affordable, and reliable energy for New Yorkers from upstate to downstate and we need the private sector to bring some of their best ideas to the table. This initiative builds on the progress we've already made and helps us reach the Governor's ambitious clean energy goals."
Alicia Barton, President and CEO, NYSERDA said, "Integrating clean, renewable energy into a more efficient, high performing grid is critical to New York meeting its ambitious energy goals, but we can't do it alone. Governor Cuomo's vision for modernizing our electric grid, reducing costs for customers, and providing clean and efficient energy for New Yorkers can only become a reality with the help of innovative and forward-thinking ideas from industry participants."
Reforming the Energy Vision
Reforming the Energy Vision is Governor Andrew M. Cuomo's strategy to lead on climate change and grow New York's economy. REV is building a cleaner, more resilient and affordable energy system for all New Yorkers by stimulating investment in clean technologies like solar, wind, and energy efficiency and requiring 50 percent of the state's electricity needs from renewable energy by 2030. Already, REV has driven growth of more than 1,000 percent in the statewide solar market, improved energy affordability for 1.65 million low-income customers, and created thousands of jobs in manufacturing, engineering, and other clean tech sectors. REV is ensuring New York reduces statewide greenhouse gas emissions 40 percent by 2030 and achieves the internationally recognized target of reducing emissions 80 percent by 2050. To learn more about REV, including the Governor's $5 billion investment in clean energy technology and innovation, visit rev.ny.gov, and follow us on Twitter, Facebook, and LinkedIn.
About the Clean Energy Fund
The 10-year, $5.3 billion Clean Energy Fund is a core component of New York State's Reforming the Energy Vision strategy to achieve a clean, resilient and affordable energy system for all New Yorkers. The CEF includes a focused effort to bring more clean energy opportunities and benefits to low- to moderate-income communities and is designed to deliver on New York State's commitment to accelerate the use of clean energy and energy innovation and drive economic development, while reducing ratepayer collections. NY Green Bank, a core component of the CEF, has generated $27.6 million in positive net income as a result of $457.5 million in investments in clean energy transactions across New York. Its $1 billion NY-Sun initiative has already helped facilitate a more than 1,000 percent increase in solar deployment since 2011. The CEF supports New York's ambitious Clean Energy Standard requiring 50 percent of the state's electricity to come from renewable energy sources by 2030.