New York Gov. Cuomo Commits $800 million to Energy Efficiency in Government Buildings
New York Governor Andrew Cuomo announced the state will invest approximately $800 million in a series of energy efficiency and renewable energy initiatives to reduce energy consumption in state buildings by 20% over the next four years.
The investments will be financed by the New York Power Authority (NYPA), which will issue loans to implement the projects. Many of the projects that will be completed will not need upfront capital because the loans will be paid back with the money saved from the energy conservation measures.
$450 million is directed at efficiency upgrades in state buildings, with the largest, most inefficient buildings being targeted first. Energy data compiled from all state buildings will determine which have the highest priority. Upgrades will include new lighting fixtures, new heating, ventilation, and air conditioning systems, and automated energy management systems.
In addition to the energy efficiency projects at state buildings, $350 million is being used to provide low-cost energy efficiency financing and technical services for county and local governments and schools. Energy efficiency projects will help lower costs for taxpayers because NYPA will recoup the cost of the projects through energy savings.
Gov. Cuomo hopes the energy efficiency initiatives will “protect our state's vast natural resources, increase energy conservation, and create jobs across New York State.” To learn more about the initiatives and projects, read the governor’s April 26 press release.