$60 Million Dedicated for Solar Energy on Long Island

UNIONDALE, N.Y., April 25, 2014 /PRNewswire/ -- In an effort to continue the success of Long Island's solar programs, Governor Andrew M. Cuomo announced, as part of the statewide NY-Sun Initiative, a $60 million investment to support the Long Island solar industry's transition to PSEG Long Island.

PSEG Long Island will partner with NYSERDA to locally implement the statewide NY-Sun program. NY-Sun Initiative is a collaborative effort among public-private entities who are all working toward the common goal of achieving greater acceptance of and advancing the use of solar power in New York State.

NYSERDA will more than double the proposed NY-Sun Initiative allocation for the Long Island region from $28 million to $60 million. The maximum size of the photovoltaic system (PV) eligible for incentives will increase from 10 kilowatts (kW) to 25 kW for residential homes and 100 kW to 200 kW for commercial businesses.

The Solar Pioneer and Solar Entrepreneur programs will be replaced with NYSERDA's Megawatt Block program, which allocates MWs to specific regions of the State; breaks those regional MW targets into blocks to which incentives are assigned; and awards incentives based upon the block in effect at the time. NYSERDA and PSEG Long Island are currently working out the details that would enable PSEG Long Island to be the local administrator for the MW Block program.

"We are pleased that with this State funding PSEG Long Island will be able to continue assisting Long Islanders in making solar power an affordable energy option," said Michael Voltz, Director Energy Efficiency and Renewables. "We would like to thank Governor Cuomo and NYSERDA for the continued support of our nationally recognized Solar Pioneer program."

Since 2000, through LIPA's nationally recognized Solar Pioneer and Solar Entrepreneur Program, rebates of approximately $170,000,000 for the installation of more than 8,000 solar roofs on Long Island have been provided.

The continued availability of rebates from PSEG Long Island and local, state and federal tax incentives helps customers reach energy independence, improve the environment, lower the cost of solar and successfully transforming and sustaining a robust solar market that continues to create clean energy jobs on Long Island.

PSEG Long Island operates the Long Island Power Authority's transmission and distribution system under a 12-year contract.  PSEG Long Island is a subsidiary of Public Service Enterprise Group Incorporated (NYSE: PEG), a publicly traded diversified energy company with annual revenues of $10 billion. 

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SOURCE PSEG Long Island