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SERIES: Metropolitan Recovery and Spending Priorities | Number 24 of 85 « Previous | Next »

Design Snapshot — New York State’s New Green Jobs Program: Linking Financing and Job Training Statewide

Recently passed legislation in New York State establishes a new statewide program to perform mass-scale building energy efficiency audits and retrofits and build up the supply of skilled workers to meet the expected increase in green job opportunities. Critically, it also authorizes state agencies to create a new framework for financing retrofits, and encourages new groupings of stakeholders—from community groups to utilities—to work together towards successful implementation. The multi-dimensional Green Job Green New York plan channels a relatively small amount of state resources, a much larger amount of private lending capital, and potential federal stimulus dollars into a new statewide revolving loan fund for retrofits and expanded opportunities for green workforce development and job placement.

Green Jobs Green New York is the first multidimensional, mass-scale, statewide building energy efficiency plan for financing and recouping costs from energy efficiency audits and installations in a range of structures. The plan involves improving aspects of the existing state-run home audit program, initiating a new statewide revolving loan fund for retrofits, and introducing new green-focused workforce development across the state. Over the next five years, Green Jobs Green New York aims to retrofit at least 1 million buildings, reduce the energy consumption of participating households by 30−40 percent, save New Yorkers $1 billion annually in energy costs, and create an expected 14,000 new clean energy jobs.

SERIES: Implementing ARRA | Number 8

SERIES: Metropolitan Recovery and Spending Priorities | Number 24