DiNapoli Announces Progress on Solar Development, But Energy Efficiency Lags

New York State Comptroller Thomas DiNapoli announced Tuesday that the state’s Clean Energy Fund (CEF) has made great progress in distributed solar capacity and leveraged funds but is still behind on efficiency targets for 2025.

Since 2016, the CEF has spent $3.4 billion on developing clean energy resources, and is almost 50% complete with its goals. Natural gas and electric efficiency approach 45% and 30%, respectively, whereas distributed solar is up to almost 90% completion. The program has garnered over $20 billion in private investments. 

“The Clean Energy Fund has made good progress on reaching its solar energy goals, but crucial energy efficiency programs have underperformed,” said DiNapoli. “It is important for the state’s climate goals that these funds are used effectively to achieve the best outcome for New York’s energy consumers.”

The CEF hopes to continue ramping up its entire program to take even bigger steps in meeting its goals for natural gas and electricity. DiNapoli recommends reviews of the market developing program to focus investments in areas that deliver the best results.