New Yorkers now have another reason to buy into solar energy as Governor Andrew M. Cuomo recently announced an incredible $107 million in incentives for new photovoltaic systems built in the state. The NY-Sun Competitive PV Program will award the money to large-scale solar array proposals over 50 kilowatts. Interested parties simply apply for the grants online, and the initiative is sure to boost New York State’s endeavor to be a leader in solar power.

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According to Governor Cuomo, the NY-Sun investments are not just for the gain of the accepted applicants, but also to the future of New York State as a whole, as they build more clean energy systems. For 2012, the program will allocate $36.4 million towards new solar projects, and an additional $70.5 million for 2013. The grants will be given as an addition to private funding, which each solar project must derive on their own.

Under NYSERDA, smaller scale projects can also be funded, limited at $3.5 million for 2012 and $3.1 million for projects under 50 kilowatts. This subsidiary will also benefit residential projects, awarding incentive money to individuals who want to convert their homes to solar power systems.

+ NY Sun Initiative

Via Eco Anchor NYC