ALBANY, N.Y. (AP) -- New York Gov. Andrew Cuomo is proposing to create a "Green Bank" to spur private investment in clean energy projects.
In his State of the State address Wednesday, Cuomo says various state entities now collect and spend $1.4 billion a year on renewables and energy efficiency, with 80 percent of the spending in the form of one-time subsidies.
He said his proposal would encourage more private market activity in clean energy, create jobs, and reduce consumer prices for renewable and energy efficient energy sources.
- Nature & Environment
- Renewable Energy & Energy Saving
- Andrew Cuomo
- clean energy
- energy efficiency