$750 Million Available for Homes and Businesses
in New York State to Improve Energy Efficiency
RELEASE: IMMEDIATE, May 17, 2001
CONTACT: Colleen Quinn, NYSERDA
(518) 862-1090, ext. 3359 or (518) 577-1932.
New York, NY – The New York State Energy Research and Development
Authority (NYSERDA) is holding the third forum of a statewide series
of forums in New York City on May 17th. The forum will introduce $750
million in funding opportunities for businesses and homes in New York
State. President and CEO of Battery Park City Authority and Acting
Chairman of NYSERDA, Timothy S. Carey, NYSERDA's president, William
M. Flynn, and Manager of Electric Operations Anita Ma from Con Ed
will be speaking. The forum will be held from 8:30a.m.- 5:00 p.m.
at the Hotel Pennsylvania located at 401 7th Ave, across from Penn
Station.
The $750 million in funding opportunities fall under NYSERDA's New
York Energy $mart program which is designed to continue energy efficiency,
low-income services, research and development, and environmental protection
programs during the State's transition to electric retail competition.
It is a key element in New York State's restructuring of the electric
utility industry. NYSERDA's New York Energy $mart Forum in New York
City will provide an overview of New York Energy $mart programs.
NYSERDA program directors and staff will provide to New York businesses,
industries, municipalities, and residents, information on how to take
advantage of these public benefit programs.
Timothy S. Carey, President and CEO of the Battery Park City Authority
and Acting Chairman of NYSERDA said, "Opportunity and information
are the first steps toward a green future. NYSERDA is providing a
$750 million foundation upon which the people of New York can build
a healthier, more energy-efficient future for our children."
"Funding is available to help businesses, institutions, and
residents identify, implement, and finance energy-efficient improvements
that save money and reduce environmental impacts associated with
energy," said William M. Flynn, President of NYSERDA. Funding
will also support research and development of renewable and distributed
energy technologies.
To ensure that vital energy-efficiency and research and development
programs continue to benefit New Yorkers during electric utility restructuring,
the State's Public Service Commission (PSC), under the leadership
of Governor Pataki, named NYSERDA administrator of programs paid for
by a System Benefits Charge (SBC) on the electricity transmitted by
the State's investor-owned utilities.
As administrator of SBC funds for the past three years, NYSERDA has
awarded more than $166.2 million in SBC funds through its New York
Energy $mart program, resulting in significant reductions in energy
consumption, annual air emissions and millions of dollars of savings
on customer bills.
Once funds have been committed from the initial round of SBC programs,
NYSERDA expects to reduce energy use by more than 880 million kilowatt
hours per year and reduce energy demand by more than 200 megawatts.
This is equivalent to serving the average annual electricity needs
of approximately 146,000 residential homes - or a little more than
the number of households found on Staten Island. These programs are
reducing energy expenses for energy consumers by more than $108 million
a year and eliminating 866 tons of nitrogen oxide emissions, more
than 1,450 tons of sulfur emissions, and more than 640,000 tons of
carbon dioxide emissions. These programs will help to add about 2,100
new jobs to the State's retail and service sectors as a result of
keeping energy dollars in local economies where they can be reinvested
into our businesses and communities.
One of NYSERDA's top priorities for the present round of funding
will be to focus on the potential energy supply problems facing New
York City during peak demand periods. NYSERDA is devoting more than
$80 million this year toward peak load reduction measures through
our R&D and Energy Efficiency programs and we expect to achieve
approximately 290 megawatts of peak demand reduction statewide. Over
the course of the next five years, NYSERDA plans to devote more than
$500 million toward these efforts and expects to reduce peak demand
by more than 1,200 megawatts statewide (including 800 in New York
City). That's enough electricity to power some 500,000 homes annually.
Further, improved energy efficiency and fewer dollars leaving the
State to pay for imported energy provide economic benefits to the
state. In January, the PSC extended SBC for another five years with
$750 million in funding opportunities available for businesses, industries,
municipalities, and residents in the State.
NYSERDA kicked off the Statewide forums in Binghamton and Buffalo
and will also be holding these forums in Rochester, Syracuse, Albany,
and the Hudson Valley during the months of May and June. For more
information on NYSERDA please refer to our web sites at www.nyserda.org
, www.GetEnergySmart.org., or call (518) 862-1090, ext. 3267.
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