The New York state government, through the Energy Research and Development Authority (NYSERDA), has announced $2.5 million in funding towards research, development and commercialisation of innovative clean energy solutions.
The $2.5 million will be issued to six clean energy companies or projects through the 76 West Clean Energy Competition in 2018.
Proposals to participate in the programme will be accepted until April 2018.
Twenty projects or companies will be shortlisted to receive mentorship from stakeholders in the state’s clean energy sector. Following the mentorship stage, will be presentations highlighting each firm’s clean energy solution. The judges will make use of the presentations to select the six winners.
The first winner will be awarded $1 million, the second $500,000 and four other projects will receive $250,000 each.
This will be the third time, funding will be issued through the 76 West Clean Energy Competition to help build a cleaner, more resilient and affordable energy system in New York.
Smart grid development
The 76 West Clean Energy Competition has been designed to supplement the Southern Tier programme. The Southern Tier supports clean energy businesses and economic development in the counties of New York west of the Catskill Mountains along the northern border of Pennsylvania.
Winners will be asked to move offices or projects into the Southern Tier or collaborate with a company operating within the region, which will also ensure local job creation.
Governor Cuomo said: “76 West attracts innovative companies and jobs to the Southern Tier and supports our efforts to build a strong clean energy economy across New York.
“The third round of the competition will encourage even more emerging clean energy companies to grow their businesses in the Southern Tier and join us in our support of clean energy technologies to fight climate change.”
Lieutenant Governor Kathy Hochul added: “Incentivising clean energy innovation in the Southern Tier through the 76 West competition is further evidence of Governor Cuomo’s commitment to creating even more jobs and opportunities in this region of the State. Investing in renewable energy and other clean energy solutions also ensures a cleaner environment and stronger economy for future generations of New Yorkers.”
Previous beneficiaries of the 76 West Clean Energy Competition have to date raised $20 million in private capital for future growth.
Launched in 2016, the 76 West Clean Energy Competition will be implemented through to 2019. In total, the project has a budget of $20 million sourced from the Regional Greenhouse Gas Initiative and the Clean Energy Fund.
Image credit: 123rf