New York State PSC receives $1.2M in Recovery Act funding

New York’s Public Service Commission (PSC) received over $1.2M in federal Recovery Act (ARRA) funding to hire new staff and retrain existing employees “to ensure they have the capacity to quickly and effectively review proposed electricity projects.”  New York’s PSC received the third most funding of any state utility commission, behind only California and Texas.

Department of Energy press release here.

Feds announce terms of cash program for renewable projects

Feds at last announce how to obtain stimulus package cash (in lieu of tax credits) for renewable projects.


Treasury, Energy Announce More than $3 Billion in Recovery Act Funds for Renewable Energy Projects

Cash Assistance Will Increase Economic Development, Promote Renewable Energy Use

Program Guidance Now Available to Businesses to Facilitate Swift Implementation

WASHINGTON – As part of an innovative partnership aimed at increasing economic development in urban and rural areas while setting our nation on the path to energy independence, the U.S. Department of the Treasury and the U.S. Department of Energy today announced an estimated $3 billion for the development of renewable energy projects around the country and made available the guidance businesses will need to submit a successful application. Funded through the American Recovery and Reinvestment Act (Recovery Act), the program will provide direct payments in lieu of tax credits in support of an estimated 5,000 bio-mass, solar, wind, and other types of renewable energy production facilities.

“The renewable energy program provides another important avenue for the Recovery Act to contribute to economic development in communities around the country,” said Treasury Secretary Tim Geithner. “It will provide additional stimulus to economies in urban and rural America by helping to develop domestic sources of clean energy. This partnership between Treasury and Energy will enable both large companies and small businesses to invest in our long-term energy needs, protect our environment and revitalize our nation’s economy.”

The Recovery Act authorized Treasury to make direct payments to companies that create and place in service renewable energy facilities beginning January 1, 2009. Previously, these companies could file for a tax credit to cover a portion of the renewable energy project’s cost; under the new program, applicants would agree to forgo tax credits down the line in favor of an immediate reimbursement of a portion of the property expense. This direct payment program allows for an immediate stimulus in local economies.

Said Energy Secretary Steven Chu: “These payments will help spur major private sector investments in clean energy and create new jobs for America’s workers. It is part of our broad effort to double our renewable energy capacity in the next few years and make sure that America leads the world in creating the new clean energy economy of the future.”

In previous years, the tax credit has been widely used. It is considered a successful incentive for encouraging the development of renewable energy. In 2006, approximately $550 million in tax credits were provided to 450 businesses. The rate of new renewable energy installations has fallen since the economic and financial downturns began, as projects had a harder time obtaining financing. The Departments of Treasury and Energy expect a fast acceleration of businesses applying for the energy funds in lieu of the tax credit.

To expedite implementation of the program, Treasury and Energy are today making available the terms and conditions, guidance, and a sample application [applications not yet being accepted, btw] at so that companies can prepare successful applications in advance of the launch of the web based application in the coming weeks – yet another tool designed to facilitate the timely flow of program funds to eligible businesses.


Nice, quick Green, Inc. summary here.

New York energy-related federal stimulus funding

So you work in the renewables (maybe wind) sector and you’d like a piece of the nearly $4 billion federal stimulus (American Recovery and Reinvestment Act of 2009 [ARRA]) pie available to New York energy projects.

The New York government has a website devoted to the topic:

A factsheet keyed in on available energy stimulus funding is available. A more generalized handbook concerning all funding opportunities is here.

NYSERDA also has posted information, online here. The agency indicates that if you have a specific question, you should email or call 1‐866‐NYSERDA (1‐866‐697‐3732).  [Added 5/5/2009: NYSERDA should be receiving nearly $30 million in federal funds for small municipalities through the Energy Efficiency Block Grant Program (EEBGP), which provides grants to U.S. local governments, states, territories, and Indian tribes, to fund projects that reduce energy use and fossil fuel emissions, and improve energy efficiency. NYSERDA must first submit an application to the Department of Energy by May 26, 2009. Once approval is received, NYSERDA will issue information on how to apply for funds.  Information on the EEBGP here.]

Questions on federal stimulus monies for New York also may be directed to the Department of Public Service’s Kimberly Harriman.

The time to act is now, as application deadlines loom. You can apply here.