SolarCity, NextEra Top New York $94 Million Solar Grants

Sept. 26 (Bloomberg) — SolarCity Corp. and NextEra Energy
Inc. were among the largest winners as New York state announced
$94 million in grants for solar power projects.

The state will help fund projects at 142 sites that will
increase solar capacity by 68 percent, Governor Andrew Cuomo
said today in an e-mailed statement. SolarCity and NextEra were
among the 25 developers that received awards and plan to invest
$375 million to add more than 214 megawatts of capacity.

SolarCity, based in San Mateo, California, won funding for
24 projects and NextEra got 16. Thirty-two sites were chosen for
solar facilities in New York City, including 24 public schools.

This is expected to be the last year the state offers the
awards under the Competitive PV program, designed to spur
investment in projects larger than 200 kilowatts. Cuomo has
lined up $1 billion in incentives for solar rooftops over the
next decade and set up a green bank to make renewable energy
cheaper for the state with the fourth-highest electricity prices
in the U.S.

To contact the reporter on this story:
Christopher Martin in New York at
cmartin11@bloomberg.net

To contact the editors responsible for this story:
Reed Landberg at
landberg@bloomberg.net
Tina Davis, Steven Frank

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