The New York State Energy Research and Development Authority (NYSERDA) announced that $10 million is now available for carbon-neutral economic development projects as part of Round XIV of Governor Kathy Hochul’s Regional Economic Development Council initiative announced earlier today. The Building Cleaner Communities Competition will provide support to projects that accelerate decarbonization and economic development across New York State. Tge announcement supports New York’s Climate Leadership and Community Protection Act goal to reduce greenhouse gas emissions 85% by 2050.
The Building Cleaner Communities Competition (formerly called the Carbon Neutral Community Economic Development Program), administered by NYSERDA in partnership with Empire State Development (ESD) and the New York Department of State’s Downtown Revitalization Initiative, provides incentives with focused support for projects located in disadvantaged communities and commercial and mixed-use facilities that are regionally significant, to reduce emissions and improve the quality of life for residents and visitors. In addition, NYSERDA prioritizes investments in decarbonization projects that result in jobs that provide family-sustaining wages and benefits, helping to support and pave the way for the transition to a clean energy economy.
This round of the competition includes funding for commercial, industrial, institutional, municipal and mixed-use building projects across New York State that are transforming the market. Applicants may apply for incentives toward new construction or existing building renovation that is designed to achieve carbon neutral or net zero energy performance and demonstrates how the approach is replicable and cost effective. Project awards will be up to 60% of eligible costs, or 75% of eligible costs for buildings owned by 501(c)(3) corporations, up to $1.7 million per award. Projects that will incorporate ground source heat pumps for all heating and cooling loads will be eligible for an additional incentive cap up to $2 million. The deadline for applications is Wednesday, July 31, 2024, at 4:00 p.m. Interested proposers can find more information or apply to this program at regionalcouncils.ny.gov.
Through this program, NYSERDA has recognized a total of 60 projects that have been awarded nearly $70 million in incentives since its launch in 2018. Funding for this program is available through the state’s 10-year, $6 billion Clean Energy Fund and through the Regional Greenhouse Gas Initiative (RGGI).
