$40 Million Competition to Reduce Costs, Promote Clean Energy, Reliability and Resiliency
August 26, 2014
Governor Andrew M. Cuomo today announced a first-of-its-kind competition launching this fall to support innovative resiliency and clean energy projects across New York. The $40 million NY Prize Competition aims to inspire a new generation of local power by challenging New York businesses, entrepreneurs, and electric utilities to design and implement community-based microgrids, which offer energy independence as well as local power generation and distribution.
“Adjusting to the new reality of extreme weather means making our communities as resilient as possible – and that is especially important when it comes to our local electrical grids,” Governor Cuomo said. “This competition will encourage individuals and organizations across the state to come up with plans for protecting and strengthening their electrical system in the face of major storms. That will mean safer communities for New Yorkers, and I encourage businesses and utilities to put their best ideas forward this fall.”
The NY Prize Competition will work with the private sector to spur new business models and community partnerships to increase reliability and reduce costs for consumers. Administered by the New York State Energy Research and Development Authority, the Competition will prioritize project replicability and transparency as well as designate feasibility and design requirements.
Microgrids are local energy networks that are able to fully separate from the larger electrical grid during extreme weather events and emergencies, providing vital public services and power to residential customers and critical operators such as hospitals, first responders and water treatment facilities.
Richard Kauffman, Chairman of Energy and Finance for New York, said, “Microgrids are an important component in Governor Cuomo’s vision for a cleaner, more affordable and resilient energy system and can play a critical role in preparing our communities to better withstand future weather emergency events. With the upcoming launch of NY Prize, communities will engage at the grassroots level in securing their energy independence while also serving as a model for the rest of the nation."
John B. Rhodes, President and CEO of the New York State Energy Research and Development Authority said, “Local energy issues require local energy solutions. NY Prize is a creative initiative that will reshape how New York approaches its energy system's resiliency and reliability needs, using community resources to address a statewide challenge."
To learn more, visit the NY Prize website at www.nyserda.ny.gov/ny-prize.
New York is the leading Northeastern state with 75 microgrid deployments and 200MW of installed microgrid capacity according to GTM Research. New York State is delivering on Governor Cuomo’s commitment to transform the energy industry into a more resilient, clean, cost-effective and dynamic system by developing innovative market solutions and empowering local community leaders and entrepreneurs. Working with State, citizen and industry-stakeholders, New York’s energy policy is moving to a more market-based, decentralized approach. This means protecting the environment, decreasing energy costs, and creating opportunities for economic growth for current and future generations of New Yorkers. In advancing new energy infrastructure and solutions, New Yorkers will have improved energy affordability and efficiency without sacrificing their right to live in a cleaner, healthier, more resilient and connected community.
Last Updated: 10/22/2014