NY’s Clean Energy Future at Risk Due to Federal Cuts
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New York State could lose almost $2 billion in federal clean energy funding due to policy changes in Washington, according to a report from State Comptroller Thomas DiNapoli. The funds, which come from the Inflation Reduction Act, are used for environmental, energy, and transportation projects throughout the state. DiNapoli warned that the cuts could lead to increased energy costs and delays in key projects, and called for the preservation of the IRA’s grant and tax credit programs.
NY’s Clean Energy Future Threatened by Federal Cuts
Nearly $2 billion from the Inflation Reduction Act (IRA) is at risk, threatening New York’s clean energy, pollution reduction, and lower energy bills. State Comptroller Thomas DiNapoli warns potential cuts might escalate energy costs and delay critical projects.
DiNapoli highlighted potential policy changes in Washington could lead to reductions or delays in IRA’s grant and tax credit programs, detrimental to consumers, small businesses, farmers, and nonprofits.
DiNapoli’s report indicates that a substantial part of the $1.979 million federal funds, earmarked for environmental, energy, and transportation projects across New York, comes as grants to state agencies. The largest portion, $250 million, is allocated for NYSERDA’s Solar for All program.
Municipalities in New York were granted over $365 million for projects that aim to redesign poorly planned roads and reduce pollution. Farms, businesses, and nonprofits share about $280 million for energy upgrades, community programs, and air quality initiatives.
Moreover, tax credits for clean energy, home improvements, and cleaner cars have previously relieved many New Yorkers’ financial burdens. However, DiNapoli suggests they may not have the chance to benefit again. President Donald Trump’s executive order reviewing all federal grants, tax credits, and permitting processes has paused IRA spending, impacting funds for electric vehicle charging stations and other environmental initiatives.
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