The New York Power Authority Board of Trustees approved $30 million in funding over a five-year period to accelerate energy efficiency market development activities and demonstration projects.

“This initiative will expand our growing clean energy industry by using public-private partnerships to accelerate the commercialization of new energy efficient technologies,” New York said Gov. Andrew Cuomo.

The NYPA’s new Energy Efficiency Market Acceleration Program, which will provide the funding, will attract technology companies to New York, create and facilitate market channels and assist in forming strategic alliances and business development opportunities for technology companies.

The NYPA claims to be a leader in promoting energy efficiency throughout the state since the late 1980s and has achieved over $144 million in annual customer savings.

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