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New York Governor proposes $1 billion Green Bank to drive clean economy

Date
10 January 2013
New York Governor proposes $1 billion Green Bank to drive clean economy

NEW YORK CITY: In his 2013 State of the State address, New York Governor Cuomo unveiled plans to continue the state’s clean energy leadership, including a $1 billion Green Bank.

As part of his third annual State of the State address, New York Governor Andrew Cuomo announced the following plans under the title, Making New York the Leader in the Clean Tech Economy:

  • The launch of a $1 billion NY Green Bank to leverage public dollars with a private sector match to spur the clean economy
  • Extension of the NY Sun Solar Jobs scheme at $150 million annually for 10 years to offer solar panel installations to homes and business
  • Establish the Charge NY program, which will invest in a state-wide electric car network of charging stations and introducing charging infrastructure tax credits

Governor Cuomo also introduced Richard Kauffman, a senior advisor to the nation’s Secretary of Energy Stephen Chu to serve as a member of the cabinet as the ‘Energy Czar’, to coordinate the state’s clean technology agenda and oversee the state government’s energy portfolio.

In his address Governor Cuomo said: "New York is on its way, coming back stronger than ever before, rising to meet some of the biggest challenges in our history, remaining as a progressive beacon of light to the rest of the nation, and standing out as a model of effective government."

Amy Davidsen, US Director, The Climate Group said: “The Governor’s comprehensive approach is an important step for New York State. The four tiered approach is a thoughtful plan in addition to other important programs at play, such as the Transportation Climate Initiative and RGGI with its recent improvements to establish new emissions limits. We welcome the Governor’s call for New York to be a leading example to the rest of the US, showing how clean energy investment offers economic as well as environmental opportunities. Such leadership should be replicated across the nation.”

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