ReCharge NY, what is it and how can I participate?
ReCharge NY, what is it and how can I participate?
The New York Power Authority (NYPA) created the ReCharge NY program to support businesses and non-profit organizations throughout the state by offering access to low-cost electricity production. The program designates 910 megawatts (MW) of electricity from both its own generation and power purchases from the market. A customer’s allocation is split into two halves: Hydro and Market. ReCharge NY’s goal is to reduce energy costs to allow businesses to invest more in job creation, growth, and community development.
Most businesses and non-profit organizations are eligible with the below exemptions:
- Retail businesses
- Sports venues
- Gaming or entertainment-related establishments
- Places of overnight accommodation.
After a thorough application process, the New York State Economic Development Power Application Board (EDPAB) makes allocation recommendations to NYPA’s Board of Trustees, who approve allocations. There are various factors taken into consideration when considering allocations, such as:
- The cost of the applicant’s electricity in regard to the total cost of doing business.
- Type and cost of buildings, equipment, and facilities to be retained and/or expanded.
- Applicant’s salaries, benefits and number of jobs at the business, and the status of retaining those jobs and/or creating new jobs.
This program not only helps businesses, it also helps support sustainability efforts. The New York State Energy Research and Development Authority (NYSERDA) has partnered up with NYPA to assist in the installation of electric vehicle (EV) charging stations at ReCharge NY customer locations.
Before applying, make sure your business meets the criteria such as significance of electricity costs to operations, potential job creation or retention, capital investment commitments, and alignment with regional economic development strategies. There is a minimum requirement of 350 MW for applicants within the NYSEG, National Grid and RG&E territories, a minimum of 200 MW for attracting new businesses and expanding existing ones and 100MW for small businesses and nonprofits.
While the process may take time, it reflects the program’s dedication to thoughtful and effective implementation.
Ready to see if your business qualifies for low-cost power through ReCharge NY?
Whether you’re looking to reduce operational costs, expand your workforce, or invest in long-term growth, ReCharge NY could be the opportunity your organization needs. Power Management is here to help you navigate the application process and determine your eligibility.