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About New York Energy $mart sm
The New York Energy $martsm program is designed to continue
energy efficiency, low-income services, research and development,
and environmental protection programs during the State ’s
transition to electric retail competition, and is a key element
in the restructuring of New York ’s electric utility industry.
New York’s public benefits program was established by order
of the New York State Public Service Commission (PSC) in January
1998. The first three-year program, funded by a System Benefits
Charge (SBC), ensured that certain consumer programs and general
public policy goals, were continued during the State’s transition
to administer the New York Energy $martsm Program with
a three-year budget of approximately $175 million.
The initial policy goals of the program were to promote competitive
markets for energy efficiency services, and provide direct benefits
to electricity ratepayers, or be of clear economic, environmental
benefit to the people of New York. To address these goals, a portfolio
of programs was created to stimulate demand for energy efficiency
products and services, and renewable resource technologies. One
early decision was to partner with the U.S. Environmental Protection
Agency and the U.S. Department of Energy ENERGY STAR Program. As
the first state partner, that alliance brought New York consumers
a recognized brand name and set of standards that ensured greater
choice in energy-efficient equipment and appliances.
NYSERDA also formed alliances with retailers, manufacturers, and
other energy stakeholders in the marketplace to leverage program
funds. This cooperation yielded a three-dollar investment for every
dollar invested by NYSERDA. The results saved consumers money, stimulated
a vibrant energy-efficient product and service market, including
new Energy Service Companies (ESCOs), and it positioned New York
as a leader in the expanding renewable energy market.
Based on this successful beginning, in January 2001, the PSC extended
the SBC program for five years, and increased the funding to $150
million per year. Today’s New York Energy Smartsm
Program is even more dynamic. Program goals and accomplishments
have grown beyond consumer interests to include the State’s
goals contained in the State Energy Plan and the tenets of Governor
Pataki’s Executive Order No. 111.
New Yorkers are saving almost $116 million in annual energy costs,
while eliminating tons of harmful air pollutants. The program has
created economic development opportunities, with more than 3,700
jobs created or retained through assistance to existing Empire State
businesses and start-up companies. Most important, it is helping
to ensure that we have a safe, secure, and affordable energy future
for all New Yorkers.
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