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New York to make long-term investment in solar

New York to make long-term investment in solar

Photo: WHCU

New York Gov. Andrew Cuomo says the state is making a long-term, $1 billion investment in support of solar power.

Cuomo said Thursday that the money will provide funding certainty for efforts to expand solar power over the next decade.

Cuomo says the investment will help the state’s solar power industry to move away from government subsidies.

The money is part of the NY-Sun initiative run by the New York State Energy Research and Development Authority, which is funded mostly through assessments on utilities.

Cuomo’s office says the state has more than 400 solar power companies that together employ 5,000 workers.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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