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Petition of New York State Energy Research and Development Authority
to Provide Initial Capitalization for the New York Green Bank
Case 13-M-0412

About the Initiative:

In January 2013, Governor Cuomo called for the establishment of a $1 billion New York Green Bank to mobilize private sector capital to finance the transition to a more cost-effective, resilient, and clean energy system. The Green Bank would accelerate the deployment of clean energy through a variety of financing tools targeted at alleviating financial market barriers and harnessing capital markets.

The primary socioeconomic objectives of the proposed Green Bank are to:

Market barriers vary across different technologies and real estate sectors, but there are a number of financing issues that are constraining private capital in the clean energy sector as a whole. The Green Bank would operate on a wholesale level, partnering with intermediaries to alleviate market barriers.

In order to address these barriers, the Green Bank would follow several important operating principles:

The long-term objective of the proposed Green Bank is to provide a bridge to a sustainable and efficient private sector clean energy financing market. Throughout all of its activities, the Green Bank would also collect and disseminate project and loan data, thereby improving investor confidence.

How to Submit Comments and Participate:

The New York State Public Service Commission is actively seeking and encouraging public comments on the New York Green Bank.

Initial comments should be submitted by October 28, 2013 and replies to those comments by November 12, 2013.

You can submit a public comment by filling out the comment form.

Active parties and stakeholders should submit comments electronically to secretary@dps.ny.gov.

Information and instructions related to becoming a party, subscribing to the service list, or otherwise monitoring the status of any of these proceedings can found on the Commission’s Web site.

Upcoming Meetings/Conferences:

A New York Green Bank technical conference will be held between 3:00 P.M. and 5:00 P.M., on Tuesday, October 15, 2013, at the New York State Department of Public Service’s Albany Offices, 19th floor, 3 Empire State Plaza. The purpose of the technical conference is to review and receive comments on NYSERDA’s petition seeking funding for the New York Green Bank. To view the webcast of the technical conference, go to: , and click on "DPS Greenbank."

Related Documents & Resources:

Documents and public comments submitted as part of the New York Green Bank proceeding are publicly available.

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New York Green Bank - Home Page updated: 10/03/2013 03:21:57 PM

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