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New York Solar Projects Will Get $54 Million in State Funding
http://www.bloomberg.com/news/2013-07-09/new-york-solar-projects-will-get-54-million-in-state-funding.htmlThe New York State Energy Research and Development Authority, which administers incentive programs for solar energy, is awarding $54 million to 79 projects in the state.
The funds will be paired with $120 million in private financing to support projects totaling 64 megawatts of capacity, the authority said today in a statement on its website. Hanwha Group and SolarCity Corp. were among the 20 recipients.
The program caps funding at $3 million a project and requires private investments, according to the statement. Today’s awards represent the second of three rounds for current proposals under review, the authority said. It awarded $46 million for 76 project in March.
The incentives have been dropping as solar energy costs have declined, the authority said. The “portfolio-weighted average” incentive awarded today was 84 cents a watt, or about 31 percent of the cost to build the projects, down from $1.30 a watt in 2011, 93 cents a watt in 2012 and 88 cents a watt in March.
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