New York Makes $285 Million Available for Energy Reduction
New York has always been the place where new ideas are brought to life, and Governor Andrew Cuomo is continuing the trend. He recently announced that $285 million in rate incentives will be made available to those in New York City and Westchester. It’s planned that this initiative will decrease electricity demand by 125 megawatts.
The program is administered by the New York State Energy Research and Development Authority (NYSERDA) and Consolidated Edison. Chairman of NYSERDA Richard Kauffman said of the program,
We are looking forward to working with Con Edison in assisting large-scale energy consumers to find solutions to reduce their demand on the electric grid through energy efficiency and demand reduction measures, which also help decrease utility bills.
The funds will be broken up into two categories. $219 million will go to large-scale commercial and industrial demand reduction and energy efficiency projects. $66 million will be delivered to Combined Heat and Power (CHP) systems at sizeable commercial sites.
How to Get a Piece of the Pie
There are numerous projects that are eligible for compensation including building management systems, high-efficiency lighting, battery storage, refrigeration and ventilation, and demand response technology.
Through the New York Independent System Operator demand response (DR) program, the city has 40 megawatts of capacity. There’s also good news for participants: payments have increased! The Federal Energy Regulatory Commission approved Order 745, which required grid operators to offer higher payments for demand response participation.
The city relies on DR to keep the electric grid stable during times of increased demand, much like last summer when reduction events were being called multiple days in a row. To learn more about the benefits of demand response and how to get involved, click here.
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