NYS ENERGY RESEARCH & DEV. AUTH history

When the Energy Office was closed in 1995, NYSERDA took on critical energy efficiency, energy assessments, energy planning, and policy analysis functions.

NYSERDA’s funding structure changed in 1996 when the New York State Public Service Commission approved the ratepayer-supported System Benefits Charge (SBC) Program and designated NYSERDA as the program’s administrator.

The 2002 New York State Energy Plan then noted possible consequences of New York State’s heavy dependence on fossil fuel, which is largely imported from abroad or out-of-state.

In 2004, the Renewable Portfolio Standard (RPS) was established with the goal of increasing the proportion of renewable energy used by New Yorkers.

In 2008, the Energy Efficiency Portfolio Standard (EEPS) was created with a specific directive: reduce electricity usage in New York.

By 2010, NYSERDA programs focused on reducing energy use, increasing energy efficiency, creating jobs, creating public-private partnerships to stimulate entrepreneurial spirit, and preparing tomorrow’s workforce to excel in the clean energy economy.

To reinforce this focus, the Public Service Commission approved funding for the Technology and Market Development Program in 2011.

NY Green Bank, a state-sponsored, specialized financial entity and a division of NYSERDA, opened for business in 2014 to increase private investment in renewable energy and energy efficiency projects, which have had difficulty accessing financing.

In 2016, Public Service Commission approved the Clean Energy Fund (CEF) for NYSERDA. Using rate-payer funds, the CEF supports clean energy market development and innovation, the Clean Energy Standard, and REV.