New York Announces 112,000 Energy Efficiency Projects Initiated Since 2012
Projects spur nearly $800 million in private investment and will save customers $341 million in energy costs annually
ALBANY, N.Y. — New York Gov. Andrew M. Cuomo announced that in the past four years, 112,000 residential and commercial energy efficiency projects have been completed or are currently under development through New York state clean energy programs. These projects are expected to attract $766 million in private investment and save customers $341 million on their energy bills each year. Homeowners are saving an average of $56 per month on electric and natural gas bills, and building owners are saving an average of $1,023 per month.
“Smarter, more efficient energy infrastructure is crucial to building a better future for New York state,” said Cuomo. “We have made tremendous progress in creating cleaner and greener communities, savings hundreds of millions of dollars for consumers every year and jumpstarting major private sector investments statewide. Our administration is committed to ensuring a bright future for this state, and we will continue working to make that happen for all New Yorkers.”
The 112,000 energy efficiency projects across the state include 90,000 individual homes and 22,000 commercial buildings, including apartment buildings, hospitals, schools, art galleries, and office buildings. The projects are expected to reduce annual electricity demand by 2 million megawatt hours a year, the equivalent of saving enough electricity to power more than 275,000 average-size homes. They are also expected to reduce annual heating fuel demand by 9 trillion Btu, the equivalent of heating more than 85,000 average-size homes.
Additionally, the projects are expected to reduce greenhouse gas emissions by more than 797,000 metric tons annually, which helps the state progress toward its goal of reducing greenhouse gas emissions by 40 percent and decreasing energy consumption in buildings by 23 percent by 2030.
In his State of the State address, Cuomo committed the state to increasing the energy efficiency of 500,000 households and 20,000 businesses by 2020. To meet this goal, the state will invest part of its Clean Energy Fund to help property owners and renters audit their current energy use to identify energy savings opportunities and replace inefficient systems and appliances with high-efficiency models wherever possible.
New York State Chairman of Energy and Finance Richard Kauffman said, “Energy efficiency is a critical component of Governor Cuomo’s Reforming the Energy Vision strategy and our mandate for 50 percent of our electricity to come from renewable energy resources by 2030.”
For more information about New York’s Reforming the Energy Vision initiative, visit www.ny.gov/REV4NY.
Publication date: 4/11/2016