Regional Greenhouse Gas Initiative

New York

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Summary of Investment Plan

New York State, through the New York State Energy Research Development Authority (NYSERDA), the Department of Environmental Conservation, and the Public Service Commission, is investing auction proceeds to:

• improve energy efficiency;
• research, develop and deploy clean and renewable technologies;
• develop a green workforce;
• build capacity; and
• increase consumer awareness of cost-effective options for conserving energy.

Proceeds are invested according to an Operating Plan. While the majority of funds are invested to acheive cost-effective near-term reductions, at least 25 percent address longer investment horizons. Funds are also invested to help State, regional, municipal, and other government institutions, commit to and acheive significant reductions in GHG emissions.  A number of initiatives are specifically designed to reduce disproportionate energy cost burdens and harmful environmental impacts on low-income families and environmental justice communities.

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Investment Highlights

Through 2010, New York has committed $150 million of RGGI proceeds to twelve consumer benefit programs that reduce greenhouse gas emissions while promoting energy efficiency and renewable energy. These investments save consumers money, create jobs, reduce the flow of dollars outside the state for imported fossil fuels and protect public health and the environment. Highlights to date include:  

$112 million in CO₂ allowance proceeds dedicated to Green Jobs/Green New York for energy efficiency audits and financing, sustainable community development, workforce training, and green job creation. GJ/GNY is designed to leverage additional public and private capital to: 

• Provide energy audits for 100,000 households and small businesses and support the implementation of 56,000 projects;
• Result in annual electricity savings of  50,000 MWh and energy bill savings of $28 million per year;
• Support training programs for 6,000 workers.

$12 million supports installation of 383 solar photovoltaic systems (3,710 kW), with anticipated production of 4,370 MWh per year.

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More Information

For more information on New York's participation in RGGI please consult:

• NYSERDA - Evaluation of RGGI-Funded Programs
• NYSERDA - Use of Proceeds Homepage
• State regulations
• State press releases on the use of auction proceeds