New York State Energy Research and Development Authority (NYSERDA) is a public benefit corporation created in 1975 under Article 8, Title 9 of the State Public Authorities Law [PDF] through the reconstitution of the New York State Atomic and Space Development Authority. NYSERDA’s earliest efforts focused solely on research and development with the goal of reducing the State’s petroleum consumption. Today, NYSERDA’s aim is to help New York meet its energy goals: reducing energy consumption, promoting the use of renewable energy sources, and protecting the environment.
Currently, NYSERDA is primarily funded by state rate payers through the System Benefits Charge (SBC), which was established on May 20, 1996, and was specified funding from July 1, 1998 to June 30, 2001. These SBC funds were allocated towards energy-efficiency programs, research and development initiatives, low-income energy programs, and environmental disclosure activities. Part of this funding went into the creation of New York Energy $martSM, which helps to maintain momentum for the State’s efforts to develop competitive markets for energy efficiency; demand management; outreach and education services; research, development, and demonstration; low-income services; and to provide direct economic and environmental benefits to New Yorkers. The SBC was extended through June 30, 2006, and most recently until December 31, 2011.