Funding from NY Green Bank for 11 NY Prize Winners
Recently, NYS Governor Cuomo has announced that $11 million in funding from NY Green Bank financing is available for 11 microgrid development projects across the State as part of the second stage of the NY Prize Community Microgrid competition. Each Stage 2 winner will receive $1 million from the New York State Energy Research and Development Authority (NYSERDA), a Consortium member and the administrator of NY Prize. Funding will support detailed engineering designs and business plans to support local clean energy generation and backup powers. Stage 2 winners advancing to Stage 3 will have access to financing for microgrid construction through NY Green Bank; Stage 3 winners are expected to be announced by the end of 2018. NYSERDA awarded over $8 million for Stage 1 of the competition to 83 communities of the 150 that applied across the State to conduct microgrid feasibility studies in 2015. The development of these microgrids supports New York’s goal to reduce greenhouse gas emissions 40 percent by 2030. Download the list of project descriptions here, and click here to read more from NYSERDA.