ALBANY, N.Y. (NEWS10) – New York Green Bank says it’s helping finance three projects expected to expand the use of solar and wind power and help homeowners cut their power usage or switch to more efficient sources.
The state-sponsored entity says its $49 million in loans should leverage up to 178 million in private capital. Funding includes $25 million for level solar, expected to help provide solar installations for up to 6,000 New Yorkers.
$4 million will support installation of more than 160 wind projects for residential, commercial and agricultural customers.
Green Bank officials declined to disclose the loans’ interest rates.