NY Awards Another $94M for Solar Projects | Energy Manager Today

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NY Awards Another $94M for Solar Projects

October 1, 2014 By Linda Hardesty

New York Governor Andrew Cuomo announced NY-Sun awards totaling $94 million for large solar electric projects that will increase the solar capacity in the state by more than 214 MW, a 68 percent increase over the amount of solar installed and in the pipeline at the end of 2013.

The new capacity, which is planned for 142 project sites, was obtained through the New York State Energy Research and Development Authority’s (NYSERDA’s) Competitive PV program, which has been working to stimulate the market for systems larger than 200 kilowatts for four years. The $94 million in state funding will spur an additional $375 million in private investment.

A total of 50 project sites are located at businesses; 41 at schools and school districts; 36 at municipal and other government facilities; and 15 at nonprofits, health care institutions and colleges.

Aggregate bid prices for awarded projects declined sharply from about a year ago – from $1 per watt to 55 cents per watt in Con Edison territory and from 68 cents per watt to 41 cents per watt in the rest of the state.

Five awarded projects went beyond solar, integrating energy efficiency and energy storage into their bids, an option available for the first time.

Recently, Gov. Cuomo announced that the state’s multiple solar programs are transitioning to the single, statewide NY-Sun Incentive Program.