Businesses Stand to Gain with Governor Cuomo’s Proposed NY-Sun Initiative Expansion

Governor Cuomo gave a full vote of confidence to the nascent large-scale commercial solar market in New York during his State of the State address last week. Specifically, he proposed expanding the successful NY-Sun Program by increasing the annual funding to $150 million and extending the program for another 10 years through 2023.The Governor’s proposed changes would firmly establish New York as a leader in the U.S. commercial solar PV market, and could result in over 200MW of new distributed solar projects being installed each year. The program funding is allocated based upon a competitive reverse auction structure, ensuring a highly efficient market-based price setting mechanism which protects NY ratepayers while promoting the development of economically-prudent distributed generation solar projects.For businesses in New York, the expanded NY-Sun Initiative represents a terrific opportunity to garner attractive cash grants which further improve the potential savings provided by commercial solar projects. The program will continue to be overseen by the New York State Energy Research and Development Authority (NYSERDA), which will be accepting applications for the program over two rounds in 2013, the first deadline for applications to be submitted is March 14^th and the final deadline is August 29^th.PowerFlex is a NYC-based solar developer focused exclusively on the corporate marketplace, and has extensive experience with the NY-Sun Initiative. Please contact the PowerFlex team to learn how your business can benefit.