May 31 (Renewables Now) - New York will award USD 5 million (EUR 4.49m) in funding to projects that would support the integration of more renewables capacity and thus enhance the resiliency of its power grid.
The funds will be provided through The New York State Energy Research and Development Authority (NYSERDA), which will await proposals by August 15, 2019.
The financing will be allocated to entrepreneurs, clean energy companies and researchers deploying innovative technologies that lower costs and boost the speed of renewables integration into the power grid. The projects must focus on low-cost monitoring and control and smart inverter functions. There will be three separate categories under which proposals will be submitted, namely engineering studies, product development projects and demonstration projects.
The initiative supports governor Cuomo’s Green New Deal, calling for the state to source 70% of its electricity from renewables by 2030 and become carbon-free by 2040.
(USD 1.0 = EUR 0.898)