Governor Andrew Cuomo’s recent 2012 State of the State address put an emphasis on boosting renewable energy resources this year, and his initiatives are already being put into action. New York State Energy Research and Development Authority (NYSERDA) and the state Public Service Commission (PSC) recently announced that they will allocate $30 million for much needed solar energy funding. The large scale solar projects will produce renewable energy for New York City and the Hudson Valley.

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Over the next 5 years, $150 million is planned for investment in New York State’s Renewable Portfolio Standard, under the Customer-Sited Tier Regional Program. The $30 million awarded on January 10th will commence the project and will help large-scale solar projects for the region. The initiative also calls for state investor-owned utilities to source 20% of their energy from renewable sources by 2015, with NYSERDA subsidizing projects up to 50%, not exceeding $3 million.

Fifteen companies across the region will receive 2012’s funding, including solar installers, project developers and real estate owners. The sponsored companies will then work with high energy using businesses in the region, like large department stores or apartment complexes, and work together to offset traditional energy with renewable sources.

The Customer-Sited Tiered Regional Program will alleviate heavy fossil fuel consuming businesses in the New York City area, by providing the much needed clean solar energy. We hope that this project will kick start the commercial use of solar power, and exceed the required 29% in the future.

Via Clean Technica