The New York State Energy Research and Development Authority and New York Power Authority are making $3.8 million available for the launch of a statewide Geothermal Clean Energy Challenge, an initiative designed to help stimulate financing and installation of large-scale geothermal systems throughout the state.
New York facilities will be provided the chance to apply for an analysis to determine whether their buildings are suited for the installation of geothermal pumps for heating and cooling.Eligible organizations that can apply for a geothermal assessment include state and local governmental entities (state agencies, fire departments, and water and sewer districts), and public or private K-12 schools, colleges, universities, hospitals and nursing homes.
“Geothermal energy can be an ideal, cost-conscious, and clean solution to heating and cooling buildings in New York,” said Gil C. Quiniones, NYPA president and CEO. “NYPA is excited to partner with NYSERDA on this initiative. We look forward to seeing the implementation of clean geothermal systems at many sites throughout the state as this Challenge gets underway.”
The program is part of New York’s Reforming the Energy Vision strategy. Applications will be accepted until 75 eligible applications are received or through March 30, 2018, whichever comes first. The 75 eligible applicants will receive a summary report at no cost with quantitative analysis of the technical and economic viability of their potential geothermal systems.
Of the 75 applications, up to 25 of the most viable sites will be awarded with a more refined economic analysis and building energy model for their proposed geothermal systems and up to $125,000 in matching funds per site for detailed design studies. Once qualification criteria are met, participants can seek project capital to proceed with project construction through NYPA financing and NYSERDA rebates.