214 MW of new solar PV projects will soon be developed in New York State thanks to $94 million in new funding from the NY-SUN program for projects awarded via the New York State Energy Research and Development Authority’s (NYSERDA) Competitive PV program, as per recent reports.
The announcement came in this week via New York Governor Andrew Cuomo’s office. Along with the specifics of the announcement — 142 new solar PV projects for a total of 214 MW of new capacity — came the estimate that this is a 68% increase on the 316 MW of PV capacity installed and in the pipeline in New York State at the end of 2013. So, a big increase.
The funding was awarded via the Competitive PV program based on said program’s competitive solicitation for projects over 200 kW — as part of a broader move to grow the market for mid-sized solar projects.
As per the arrangements of the program, the funding from NY-SUN will be allocated to chosen projects at project completion, and annually thereafter on a performance basis. The NY State Governor’s Office is expecting the NY-SUN funding to leverage roughly $375 million in private investment.
The announcement also made note of the fact that solar incentives in the state have been gradually declining — for example, in ConEdison’s service territory, the state was providing around $1.00 per watt a year ago, but now is providing “only” about $0.55 per watt. Outside of ConEdison territory, the story is similar — falling from around $0.68 per watt to $0.41 per watt.
“We are moving toward having a self-sustaining solar industry here, that would not require incentives from the state,” stated Dayle Zatlin, NYSERDA’s Assistant Director of Communications.
Image Credit: Patrick Theiner, Creative Commons
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