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Power NY act signed into law

ALBANY - The Power NY Act of 2011, an omnibus energy package that encourages new investments in electric generating facilities across New York and creates the nation's first statewide "on-bill" recovery program to increase energy efficiency for homeowners and businesses, was signed into law by Governor Andrew Cuomo.   The new law will create thousands of jobs and set the state on a course of reliable, cleaner energy while strengthening environmental protections.

"We must rebuild and expand New York's energy infrastructure to meet the demands of the 21st century and grow our economy," Governor Cuomo said. "This law will lead to new investment and create tens of thousands of jobs across the state. The act gives community members a voice in the siting process and will maintain New York's position as a leader in environmental protection. I thank the legislature for their support of this legislation."

The Power NY Act establishes a new process for the siting of electric generating facilities and repowering projects. The new law encourages investments in clean power plants and affords communities more opportunities to meaningfully participate in the siting process. After years of gridlock, the measure passed with support from industry, environmental advocates, consumer groups, labor and community organizations.

Additionally, Power NY includes the creation of a historic "on-bill" recovery program that will encourage homeowners and businesses to invest in energy efficiency under the "Green Jobs/Green New York" program. New York is the first state in the nation to create a statewide program of this scale. "On-bill" allows homeowners to take out low-interest loans from NYSERDA for energy efficiency measures, to be paid back on their utility bills. It will help create thousands of green jobs, result in greater energy efficiencies and lower energy bills for homeowners and businesses across the state.