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Cuomo to Invest $800 Million for New York Energy Efficiency

NY Governor Andrew Cuomo is investing $800 million to enhance the energy efficiency of state and local government buildings, with a goal of reducing consumption by 20 percent over the next four years. About $450 million will be spent on updating state buildings, and $350 million on projects for local government, school district and public hospital facilities, he said. The power authority will issue as much as $800 million in debt to finance the projects, and repay the bonds from the resulting electric-bill savings. The upgrades include automated energy-management systems, electric motors and new lighting fixtures. Chicago Mayor Rahm Emanuel announced a similar plan last month for the Windy City to fund as much as $225 million in energy-efficiency upgrades using a mix of public and private investment.
4/26 Bloomberg