Thursday, December 7, 2017

$3.8M Available for Geothermal Clean Energy

The New York State Energy Research and Development Authority (NYSERDA) and New York Power Authority (NYPA) have announced the availability of $3.8 million for the launch of a statewide Geothermal Clean Energy Challenge, an initiative designed to help stimulate financing and installation of large-scale geothermal systems at state and local governmental entities, public and private schools and healthcare facilities.

The Challenge provides New York facilities with the opportunity to apply for an analysis to determine whether their buildings are best suited for the installation of geothermal pumps (i.e., ground-source energy heat pumps) for heating and cooling of buildings, by transferring heat to or from the ground.

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. NYSERDA and NYPA  are jointly administering the Challenge.

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 are expected to 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. NYPA, NYSERDA and state utilities also have various energy efficiency programs available to help further reduce energy costs.

Entities seeking to leverage geothermal energy systems to meet their heating and cooling needs can submit an application on the Geothermal Challenge website through March 30, 2018. Specific questions can be addressed by emailing Geothermal@nypa.gov.

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