The New York Governor has announced a $1bn commitment to the NY-Sun initiative, which provides long-term funding certainty that will increase existing businesses and attract new investments to the state from global solar companies for greater economic growth.

New York governor Andrew M Cuomo noted that this $1bn investment underscores state’s commitment to growing the clean energy economy.

"By providing long-term funding certainty, the State is attracting private sector investment, creating new economic opportunities and supporting sustainable development.

"As we celebrate Earth Week, we are once again reminded how initiatives such as NY-Sun can work to provide innovative solutions, create a more resilient and flexible power grid, lower the state’s carbon footprint and promote a cleaner and healthier environment for all New Yorkers," Cuomo added.

The New York Public Service Commission, in order to accompany the NY-Sun Initiative, has approved an order to change New York State Energy Research and Development Authority’s current incentive-based solar programs by creating a long-term roadmap to transition from government-sponsored energy programs to market-based sustainable solutions for the solar industry.

NYSERDA, in order to support the continued success of the solar industry on Long Island and to support the industry’s transition from the Long Island Power Authority to PSEG Long Island, will increase the proposed allocation for the Long Island region from $28m to $60m.

NYSERDA will increase the maximum size of the PV system eligible for incentives up to 200kW, and will partner with PSEG Long Island to locally implement the statewide NY-Sun program.