May 16, 2008 The Long Island Power Authority (LIPA) plans to invest nearly a billion dollars in energy efficiency over the next 10 years under its new Efficiency Long Island program, which was unveiled earlier this month.
The $924 million program will start on January 1, 2009, and will offer residential and business customers an array of incentives, rebates, financing options, and other programs to help reduce their energy use, says the company. The program will be funded through a modest energy efficiency fee based on electricity use. It will be offset somewhat by a reduction in base rates to remove funding for the energy efficiency portion of LIPA’s Clean Energy Initiative, which expires at the end of the year. Over the next decade, Efficiency Long Island is expected to reduce the island’s peak demand by 500 megawatts (MW), equal to about one large power plant.
New York State as a whole has been supporting energy efficiency through its New York Energy Smart Program, which is funded by a “systems benefit” charge that is added onto customers’ bills. Administered by the New York State Energy Research and Development Authority (NYSERDA) since 1998, the program has helped the state achieve $570 million in annual energy savings while reducing peak electrical demand by 650 MW. It has also allowed for an additional 550 MW of short-term load reduction when needed.
For more information, see the LIPA Web site.
