Renewables, Solar

Gov. Cuomo announces $60M investment for solar power in Long Island

New York Governor Andrew M. Cuomo announced a $60 million investment to support the Long Island solar industry’s transition to PSEG Long Island, as part of the statewide NY-Sun Initiative.

PSEG Long Island, a subsidiary of Public Service Enterprise Group Inc. (NYSE: PEG), will partner with the New York State Energy Research and Development Authority (NYSERDA) to implement the program.

NYSERDA will more than double the proposed NY-Sun Initiative allocation for the Long Island region from $28 million to $60 million. The maximum size of the photovoltaic system (PV) eligible for incentives will increase from 10-kW to 25-kW for residential homes and 100-kW to 200-kW for commercial businesses.

In addition, NYSERDA will also launch its Megawatt Block program, which allocates megawatts to specific regions of the State; breaks those regional megawatts targets into blocks where incentives will be assigned.

PSEG Long Island operates the Long Island Power Authority’s transmission and distribution system under a 12-year contract.