Several funding sources help NYSERDA advance the State’s clean energy goals and achieve the Authority’s mission. NYSERDA invests these funds in a fiscally responsible manner that maximizes benefits to New Yorkers, fills critical gaps, and addresses the needs of the market.
Clean Energy Fund
The Clean Energy Fund (CEF) is designed to deliver on New York State’s commitment to reduce ratepayer collections, drive economic development, and accelerate the use of clean energy and energy innovation through 2026. Authorized by the Public Service Commission (PSC) and derived from an assessment on retail sales of electricity by State utilities — it is comprised of four portfolios: Market Development, Innovation and Research, NY-Sun, and NY Green Bank.
Customers of the following utilities pay the SBC:
- Central Hudson (Central Hudson Gas & Electric Corporation)
- Con Edison (Consolidated Edison Company of New York, Inc.)
- National Fuel (National Fuel Gas Distribution Corporation)
- National Grid (Niagara Mohawk Power Corporation)
- National Grid-Long Island (KeySpan Gas East Corporation)
- National Grid New York (Brooklyn Union Gas Company)
- NYSEG (New York State Electric and Gas Corporation)
- Orange and Rockland Utilities, Inc.
- RG&E (Rochester Gas and Electric Corporation)
To determine if you are paying the SBC, look at a recent bill from your utility company to see if “SBC” or “RPS” is listed as a charge. If need assistance determining whether you pay into the SBC, contact NYSERDA at 1-866-NYSERDA. Utility customers that do not pay into the SBC may still be eligible for NYSERDA programs. Contact NYSERDA at 1-866-NYSERDA to determine if any energy efficiency programs are available to you.
Clean Energy Standard
The Clean Energy Standard, as authorized by the Public Service Commission (PSC), funds are realized by NYSERDA through the sale of Tier 1 Renewable Energy Credits (RECs), Offshore Wind Renewable Energy Credits (ORECs), and Zero Emission Credits (ZECs) as well as receipt of Alternative Compliance Payments from New York’s Load Serving Entities (LSEs). Through PSC orders, LSEs are obligated to meet annual compliance obligations for RECs, ORECs and ZECs. As needed, utility financial backstop collections may be called upon to meet funding shortfalls.
Regional Greenhouse Gas Initiative
The Regional Greenhouse Gas Initiative (RGGI) is focused on energy efficiency, renewable energy and carbon abatement projects in New York State. These funds are derived from sale of carbon emission allowances as set forth in 6 New York Code of Rules and Regulations (NYCRR) Part 200 and 21 NYCRR Part 507. The amount of revenues available is dependent on the auction prices for the allowances, which are variable. RGGI is the first market-based, mandatory cap-and-trade program in the U.S. to reduce greenhouse gas emissions. New York State participates along with eight other Northeast and Mid-Atlantic states. Green Jobs - Green New York is funded by RGGI.
Other funds includes sources provided by various sponsors used for specific purposes. Public funds are leveraged considerably with private sector funding through NYSERDA programs.