This is the first of three Competitive PV Program rounds planned for this year within the framework of the New York states 10 year NY-Sun Competitive PV Program, which was launched last August.
The program belongs to the NY-Sun Initiative, a public-private partnership designed to boost growth in the states photovoltaic industry, lower solar costs and create new jobs. It also aims to lower costs for large energy consumers, including businesses, public buildings and factories.
The NY-Sun Initiative aimed in 2012 to install twice the customer-sited PV capacity added in 2011. It now plans to quadruple that amount in 2013.
The $46 million from New York State will leverage $100 million in private investment. The current solar program is investing $800 million through 2015.
In this years State of the State address, New York States Governor Andrew M. Cuomo committed to extending the NY-Sun Initiative through 2023, according to a statement released on March 28 by the Solar Energy Industries Association.
The program brings together and expands existing programs administered by the New York State Energy Research and Development Authority (NYSERDA), Long Island Power Authority (LIPA), and the New York Power Authority (NYPA), to ensure a coordinated, well-funded solar energy expansion plan.
Furthermore, the statement adds that since the program was launched there has been a 30% reduction to the incentives awarded. While in 2011, the portfolio-weighted average incentive awarded was $1.30/W, current awards represent $0.88/W.
In 2012, New York State ranked tenth in the U.S. solar market with a total of 60 MW of installed photovoltaic capacity.