Financing available for decarbonization and modernization projects across the state
October 30, 2023
Governor Kathy Hochul today announced the $12 million Heat recovery program retrofit buildings in New York State, focusing on decarbonization and retrofit projects that reuse heat to save energy and reduce fossil fuel use in buildings across the state. The practice of heat recovery, which involves recovering wasted heat and reusing it directly or storing it for later, represents a promising approach to boost decarbonization and helps accelerate progress toward the Climate Leadership and Community Protection Act goal. State to reduce greenhouse gas emissions by 85% by 2050.
"New York's robust decarbonization efforts across the state are generating innovative and replicable approaches to reduce building emissions and combat climate change," Governor Hochul said. "Through this new initiative using heat recovery, we will help increase the adoption of heat recovery solutions, make building operations more affordable, and promote a healthier living environment for more New Yorkers around the world. state".
Administered by the New York State Energy Research and Development Authority (NYSERDA), this open enrollment financing is available for projects in existing commercial, multifamily, institutional and industrial buildings in New York State. For awarded projects, NYSERDA will provide up to 75% cost sharing, with maximum awards of $40,000 for the production of heat recovery opportunity assessments and $80,000 for the development of design and construction plans for recovery projects. of heat. Heat recovery projects will include the capture and transfer of rejected heat to reduce the energy used by other systems, such as rejected and captured heat from cooling and dehumidification, ventilation extraction, or wastewater processes. Low-to-moderate-income multifamily housing is eligible for up to 100% cost sharing, and NYSERDA will dedicate $3 million of the total funding exclusively for projects in low-to-moderate-income multifamily buildings.
NYSERDA President and CEO Doreen M. Harris said, โNYSERDA is pleased to add the Heat Recovery Program to its portfolio of available offerings that aim to increase energy efficiency and advance the use of new decarbonization technologies. Buildings, even those that are well managed, waste heat through a variety of processes including ventilation, cooling and wastewater. โApplying heat recovery to building operations reduces costs by recovering energy that has already been paid for and reduces overall greenhouse gas emissions, resulting in safer, more sustainable living conditions.โ
Applications for the Heat Recovery Program are now open and funds will be available on a first-come, first-served basis. For more information on heat recovery, including project-specific case studies and program details, visit here.
Today's announcement builds on that of NYSERDA. Request for Qualifications for Heat Recovery Solutions (RFQL), which qualifies a wide range of heat recovery solution providers to publish actionable information on the effectiveness of heat recovery technologies and increase customer confidence in the viability of heat recovery as a strategy. modernization.
Buildings are one of the largest sources of greenhouse gas emissions in New York State, and through NYSERDA and utility programs, more than $6.8 billion is being invested to decarbonize buildings across the state. . By improving energy efficiency in buildings and advancing on-site storage facilities, renewable energy and electric vehicle charging equipment, the State will reduce its carbon pollution and achieve its ambitious goal of reducing on-site energy consumption by 185 TBtu by 2025, the equivalent of powering 1.8 million homes.
As authorized by the New York State Public Service Commission, funding for this initiative is provided through the Clean Energy Fund. More information about this financing is available on NYSERDA website.
New York State's Nationally Leading Climate Plan
New York State's nationally leading climate agenda calls for an orderly and just transition that creates family-sustaining jobs, continues to foster a green economy across all sectors, and ensures that at least 35%, with a goal of 40 % of the benefits of clean energy investments are directed to disadvantaged communities. Guided by some of the most aggressive climate and clean energy initiatives in the country, New York is on track to achieve a zero-emissions power sector by 2040, including 70% renewable energy generation by 2030, and carbon neutrality throughout the economy by mid-century. A cornerstone of this transition is New York's unprecedented investments in clean energy, including more than $55 billion in 145 large-scale transmission and renewable projects across the state, $6.8 billion to reduce building emissions , $3.3 billion to expand solar energy, more than $1 billion for clean transportation initiatives, and more than $2 billion in NY Green Bank commitments. These and other investments support more than 165,000 jobs in New York's clean energy sector in 2021 and more than 3,000% growth in the distributed solar sector since 2011. To reduce greenhouse gas emissions and improve air quality, New York also adopted zero-emission vehicle regulations. , including a requirement that all new passenger cars and light trucks sold in the state be zero emissions by 2035. Partnerships continue to drive New York's climate action with nearly 400 climate-smart communities registered and more than 100 certified, nearly 500 clean energy communities, and the state's largest community air monitoring initiative in 10 disadvantaged communities across the state to help combat air pollution and combat climate change.
