Program to Provide Savings of $180 Million for Housing Owners and Tenants While Supporting the Governor's Mandate to Reach 50 Percent Renewable Power by 2030
Governor Andrew M. Cuomo today announced the availability of $16 million through the New York State Energy Research and Development Authority to support the design and construction of new energy-efficient housing and to complete similar improvements in existing buildings across New York State. Improvements in energy efficiency, particularly in the construction of new residential houses and apartment buildings, is a critical component of the Governor's nation-leading Clean Energy Standard, which requires 50 percent of the state's power to come from renewable sources by 2030. Homes and buildings that take advantage of this support are projected to see annual energy cost savings of more than $9 million and total lifetime savings of as much as $180 million, as well as improved household comfort and indoor air quality.
"Ensuring New York's buildings are constructed to the highest standards of energy efficiency is crucial to both our long-term sustainability and prosperity of the state," said Governor Cuomo. "Smart choices about efficiency can simultaneously save money and protect the environment. This investment promotes that principle in order to build healthy communities and save consumers hundreds of millions of dollars."
Approximately $8 million will be offered to housing developers and builders of low-rise housing, including single-family homes and multi-unit buildings generally three stories or less, through NYSERDA's Low-rise Residential New Construction program. The other $8 million will be offered to housing developers and builders of mid- and high-rise housing, generally multi-unit buildings of four stories or more, through NYSERDA's Multifamily New Construction Program.
Approximately 75 percent of the entire $16 million in funding is designated for housing for low- to moderate-income residents, who are most vulnerable to high energy cost burdens and whose homes are often especially susceptible to the impacts of extreme weather.
Both programs support the incorporation of energy efficiency measures, such as increased insulation and improved air-sealing; high-efficiency heating, cooling, and balanced ventilation systems; energy-saving appliances and lighting; high-performance windows and doors; as well as renewable energy technologies.
This funding is being made available through NYSERDA's Clean Energy Fund, a 10-year, $5.3 billion program to support clean energy market development and innovation. This fund is a major component of Governor Cuomo's Reforming the Energy Vision (REV) strategy to build a clean, resilient and affordable energy system for all New Yorkers.
New York State Chairman of Energy and Finance Richard Kauffman said, "To meet our energy and climate goals, energy efficiency must scale rapidly. With this investment, New York State is driving progress toward a robust and self-sustaining market for energy efficiency, both in new construction and major renovations of older building stock."
NYSERDA President & CEO John B. Rhodes said, "Building more efficient homes supports Governor Cuomo's innovative REV strategy while significantly improving consumer choice and energy affordability. By making these types of investments, New York continues to ensure energy-efficient housing is attainable for all, including low- to moderate-income New Yorkers."
In addition to providing direct funding support, NYSERDA will identify and promote the use of collaborative techniques among housing development, design and construction teams to ensure that cost-effective design and proper construction of efficient homes is replicated throughout the state. The programs will also work to increase awareness and demand for zero net energy buildings, which are designed to produce as much energy as they use. These activities will support recent State initiatives to spur higher-performing affordable housing construction, for instance through the inclusion of a Passive House building track in New York State Homes and Community Renewal’sUnified Funding Application.
Energy efficiency programs are among the most cost-effective means to reduce carbon emissions overall in the energy sector according to a multitude of experts. Today's announcement will also build on New York's national leadership in green construction. New York ranks in the top 5 states in terms of the volume of green construction, which contributed a total of $31.62 billion to the state's GDP between 2011 to 2014 while supporting 369,000 New York jobs, according to a 2015 economic impact study by the U.S. Green Building Council.
State Senator Joseph Griffo, Chair of the Senate Energy Committee, said, "As many New Yorkers struggle to afford the high energy costs of their homes, this funding to build new energy-efficient housing will help lower-income families save money while protecting them from sporadic spikes in utility rates."
Assemblywoman Amy Paulin, Chair of the Assembly Committee on Energy said, "Providing funding for new energy-efficient housing is a win-win for New York. It will help reduce energy usage, while saving residents money on their utility bills. I am especially pleased that 75 percent of the funds will be made available to housing for low- to moderate-income residents, who need the savings the most."
Applications to both the Multifamily New Construction Program and the Low-rise New Construction Program will be accepted for qualified projects through December 29, 2017, or until the funding is exhausted. More information on the Multifamily and Low-rise Residential New Construction Programs is available here http://www.nyserda.ny.gov/newconstruction-Res.
About the Clean Energy Fund
The 10-year, $5.3 billion Clean Energy Fund is a core component of New York State's Reforming the Energy Vision strategy to achieve a clean, resilient and affordable energy system for all New Yorkers. It is designed to deliver on New York State’s commitment to reduce ratepayer collections, drive economic development, and accelerate the use of clean energy and energy innovation. It includes a focused effort to bring more clean energy opportunities and benefits to low- to moderate-income communities throughout the State. The Clean Energy Fund supports the aggressive Clean Energy Standard, which requires that 50 percent of the State’s electricity come from renewable energy sources by 2030.
About Reforming the Energy Vision
Reforming the Energy Vision (REV) is Governor Andrew M. Cuomo's strategy to lead on climate change and grow New York's economy. REV is building a cleaner, more resilient and affordable energy system for all New Yorkers by stimulating investment in clean technologies like solar, wind, and energy efficiency, in support of the recently adopted Clean Energy Standard, which requires that 50 percent of the state's electricity needs be generated from renewable energy by 2030. Already, REV has driven 600 percent growth in the statewide solar market, enabled over 105,000 low-income households to permanently cut their energy bills with energy efficiency, and created thousands of jobs in manufacturing, engineering, and other clean tech sectors. REV is ensuring New York State reduces statewide greenhouse gas emissions 40 percent by 2030 and achieves the internationally-recognized target of reducing emissions 80 percent by 2050. To learn more about REV, including the Governor's $5 billion investment in clean energy technology and innovation, please visit www.ny.gov/REV4NY and follow us at @Rev4NY.
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