$750 Million Available for
Homes and Businesses in New York State to Improve Energy Efficiency
RELEASE: IMMEDIATE, June 21, 2001
CONTACT: Colleen Quinn, NYSERDA
(518) 862-1090, ext. 3359.
Poughkeepsie, NY – – The New York State Energy Research
and Development Authority (NYSERDA) is holding the sixth forum of
a statewide series of forums in Poughkeepsie on June 14th. The forum
will introduce $750 million in funding opportunities over the next
five years for businesses and homes in New York State. The forum will
be held from 8:30a.m.- 5:00 p.m. at the Poughkeepsie Grand Hotel located
at 40 Civic Center Plaza, Poughkeepsie, NY.
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 Poughkeepsie
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.
"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) 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 - which would cover the
counties of Dutchess, Putnam, and Sullivan, or half of Westchester
County. 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.
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.
For more information on NYSERDA please refer to our web sites at
www.nyserda.org , www.GetEnergySmart.org.,
or call (518) 862-1090.
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