$279m approved for New York clean energy projects

New York State’s Public Service Commission has approved a $279 million funding package for small-scale renewable energy projects over the next five years.

The plan approved yesterday will help “thousands” of homeowners and businesses to install solar panels, fuel cells, wind turbines and other renewable energy devices, the Commission said.

The funding announcement came on the same day that the state’s solar industry revealed that PV installation rates have slumped in the months since the Commission’s decision to cut back on rebates.

The $279 million funding package will come from the state’s Renewable Portfolio Standard initiative.

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