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NYPA projects completed in 2012 will save New Yorkers an estimated $6 million per year

From the April 16, 2013 issue of Public Power Daily

Originally published April 16, 2013

The New York Power Authority financed and completed 83 energy efficiency projects in 2012 at public facilities throughout the state, New York Gov. Andrew M. Cuomo announced April 12. The upgrades, which together cost more than $88 million, will provide annual energy savings of $6.4 million to New York taxpayers, the governor's office said. They also will also reduce greenhouse gas emissions by about 34,000 tons a year, equivalent to removing more than 6,400 cars from the road, NYPA said.

 "Increasing energy efficiency statewide in public facilities is a common-sense investment in New York’s future and a core component of the state’s energy, economic development and environmental policies," Cuomo said. 

In addition to the projects completed in 2012, the power authority invested $248 million for energy-efficiency projects that are in various stages of development. That amount reflects a 68 percent increase in NYPA financing of ongoing energy efficiency projects compared to 2011, the utility said.

"Each of the energy efficiency projects delivers energy and maintenance cost savings, freeing up money for the essential services of state and local governments," said NYPA Chairman John R. Koelmel.

"Under Governor Cuomo’s leadership, the New York Power Authority is making innovative, energy-efficiency technologies more accessible for public facilities and services, and we look forward to furthering New York’s commitment to reducing energy costs and greenhouse gas emissions," said NYPA President and CEO Gil C. Quiniones.

Each energy efficiency project results in energy, maintenance and operating savings that pay for the cost of the initiative, NYPA said. Program participants repay the utility’s financing costs by sharing the savings; after the costs have been repaid, participants retain all the savings.

Last December, Gov. Cuomo signed Executive Order 88, directing state agencies to increase energy efficiency in state buildings by 20 percent over seven years. The governor also launched Build Smart NY, a plan to strategically implement the order by prioritizing and accelerating energy efficiency improvements. He designated NYPA to carry out the Build Smart NY improvements. More information about the initiative is posted

"Especially in the wake of Hurricane Sandy, it is great to see that New York state is leading the way under Gov. Cuomo to integrate the latest energy efficiency and clean energy technologies to help meet energy demand and reduce climate-changing pollution," said Ashok Gupta, director of programs at the Natural Resources Defense Council. "These solutions are an effective means of reducing energy use, lowering energy bills and responding to the problem of extreme weather." 

Descriptions of the 83 energy efficiency and clean energy projects that NYPA completed last year are available at the power authority's website.


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- Gregg Paulson - $88M cost - $6.4M annual savings = 13.75 year payback!!

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