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(Next City ) March 4, 2021
Solar panels are among the projects green banks could fund. Image by Jose G. Ortega Castro on Unsplash
A version of this article first appeared in Next City.
If you’ve ever looked at an electrical bill in New York or Connecticut, you may have noticed the vague-sounding “system benefit charge.” Right now in New York, it’s 0.5238 cents per kilowatt-hour for a $60 electric bill, all other taxes and fees included, the system benefit charge comes out to 77 cents. In Connecticut it hovers between $7-$10 a year per household.
Some, if not most, of those dollars end up in the state’s green bank. Only a few states and localities have a green bank, and not all of them are funded the same way. They’re not banks in the depository sense they don’t offer checking or savings accounts. Instead, they’re state-sponsored entities that use their dedicated funding sources to make loans, provide credit enhancements or use other financial mechanisms to
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Governor Andrew M. Cuomo today announced that 75 businesses, schools, and community-based organizations across the state have been awarded nearly $9.5 million as part of the State s historic Workforce Development Initiative. Funding and incentives provided by Department of Labor, Empire State Development and the New York State Energy Research and Development Authority will support critical job training and employment opportunities in high-demand industries for nearly 5,000 New Yorkers across the State.
When the COVID-19 crisis hit and New York s economy took a turn for the worse, the state s Workforce Development Initiative became even more vital to our longtime goal of making sure everyone, regardless of background, has access to a good job, Governor Cuomo said. We re providing greater economic opportunity to New Yorkers and addressing the business needs of companies committed to growing here, and these awards will help companies across the stat
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