Clean Energy Economy

Powering a Greener Future for New York

As New York continues to increase clean energy deployment and reduce emissions from buildings, transportation, and the electric grid, the State’s growing clean energy industry is poised to continue expanding access to high-quality and family-sustaining jobs statewide. New York State is positioned as an innovation, research, and manufacturing capital of clean technology to create thousands of jobs, establish the clean energy supply chain, and attract national and global investments.

How We’re Driving Clean Energy Job Growth and Investment

Building a thriving clean energy industry requires growing our workforce through training and education and investing in innovation to create new low-carbon technologies. It also means increasing the use of existing clean energy solutions like heat pumps and electric vehicles to transform how New Yorkers heat and cool their homes and get from A to B.

To achieve this goal, NYSERDA is working with State agency partners, labor unions, technical schools, universities, clean energy companies, and community organizations.

Here’s how:

• Increasing clean energy jobs for New Yorkers by leveraging private sector, state, and federal investment to attract clean energy industry and innovation to New York.
• Providing workforce development and training programs to increase the training opportunities and human resources needed to grow New York’s clean energy economy, especially for historically disadvantaged populations and workers affected by the transition away from fossil fuels.
• Supporting family-sustaining jobs and New York businesses through prevailing wage agreements for clean energy projects and prioritization of minority and women owned business enterprises and service-disabled veterans’ businesses.
• Driving demand for clean energy solutions to attract clean energy companies from all ends of the global supply chain looking to serve the growing clean energy market, supported by proactive cross-agency attraction efforts.
• Fostering investment in and support for commercialization of products, services, and business models from clean energy startups and maturing companies.
• Delivering assistance to energy startups and innovators, leveraging support from federal investment and future federal incentives to advance clean energy innovation.
• Encouraging greater private sector investment and business models through new, substantial commitments of capital in the clean energy economy.
• Leveraging NYSERDA’s position to act in a critical role as a regional clean energy leader among states and within New York State, while helping unlock the benefit of federal programs to accelerate job and economic growth in New York.

Achieving a Robust Clean Energy Economy

New York will continue mobilizing private capital via the NY Green Bank to spur clean energy innovation.

This investment will solidify New York as a leading market for clean energy business growth and supply chain localization. This will include regional specialization, such as the Southern Tier emerging as one of the nation’s battery manufacturing and research hub.

Key Areas of Progress

• NYSERDA’s targeted entrepreneurial support have helped 374 companies create more than 1,700 jobs while attracting $1.85 billion in additional private and public investment.
• NYSERDA’s Innovation investments have helped commercialize nearly 300 clean energy products since 2016 in such areas as energy use and grid modernization, advanced fuels and thermal energy systems, and clean power generation and storage. In fact, every $1 of NYSERDA funding contributed more than $15 in leveraged funds since 2016.
• The State has the nation’s largest and only self-sustaining green bank, which has made nearly $2.5 billion in commitments, mobilizing nearly $9.4 billion in public and private capital in support of New York’s growing zero-emission economy.
• As of 2023, New York has created more than 178,000 clean energy jobs and has the third most clean energy jobs in the U.S.
• The State’s investments support domestic manufacturing of clean energy technologies to build out the clean energy supply chain, resulting in the creation of more than 13,000 direct and indirect jobs statewide and almost $2.3 billion in gross State product in 2023.
• NYSERDA has committed more than $180 million to help train and prepare more than 40,000 New Yorkers for growing clean energy job opportunities and assist clean energy businesses in recruiting, hiring, and training workers.