Commission Emphasizes Efficient Use of Ratepayer Funds, Transparency and Accountability Towards Developing Innovative Solutions to the State’s Most Critical Clean Energy Needs

NEW YORK — The New York State Public Service Commission (Commission) today approved the New York State Energy Research and Development Authority (NYSERDA) petition regarding a $412.3 million 2026-2030 Innovation and Research (I&R) portfolio. In its decision, the Commission addresses the efficient use of ratepayer funds, improving transparency, and provides further direction on meeting the state’s most critical clean energy needs.

“Under Governor Kathy Hochul, New York’s commitment to deploying clean energy and protecting the environment has been steadfast,” said Commission Chair Rory M. Christian. “As we look ahead, it is clear further innovation will be needed to strategically advance our climate goals while ensuring safe and reliable service. I look forward to the continued success of the Innovation and Research Portfolio in advancing new solutions.”

On September 15, 2022, the Commission directed NYSERDA to file a qualitative and quantitative assessment of the I&R portfolio’s performance since its inception in 2016 as well as a funding proposal for the portfolio’s post-2025 activities. Through 2023, the I&R portfolio, which operated as a component of the Clean Energy Fund, has invested $623 million of programmatic funds resulting in $3.5 billion in leveraged funds, over 200 products commercialized and nearly 1,000 replications of demonstrated technologies.  For the 2026 through 2030 period, the I&R portfolio will build upon its past performance and lessons learned and focus investments into the most critical needs facing the state today.  

The portfolio will orient towards investments in seven specific focus areas, including grid modernization, advanced buildings and processes, clean transportation, power generation and storage, commercialization and ecosystems, fuels transition, and energy-related environmental research.  The approved portfolio funding aligns with state policies to advance innovative clean energy solutions that enable system-wide affordability and reliability while driving toward a sustainable and more resilient future.

NYSERDA will commit the approved funding during the 2026 through 2030 period, with expenditures occurring through 2034.  Minimum expected outcomes include $1.7 billion in leveraged funds, 110 products commercialized, and 570 replications and/or demonstrations.  NYSERDA is directed to file an operating plan within 60 days to provide further details on the programming and expected outcomes, subject to Department of Public Service staff approval.

Today’s decision may be obtained by going to the Commission Documents section of the Commission’s Web site at www.dps.ny.gov and entering Case Numbers 14-M-0094 or 25-M-0421 in the input box labeled "Search for Case/Matter Number". Many libraries offer free Internet access. Commission documents may also be obtained from the Commission’s Files Office, 14th floor, Three Empire State Plaza, Albany, NY 12223 (518-474-2500). If you have difficulty understanding English, please call us at 1-800-342-3377 for free language assistance services regarding this press release.