ALBANY — Gov. Andrew Cuomo is set to sign a bill that will allow New York to increase its power production and to announce a plan allowing homeowners and businesses to borrow for the cost of energy efficiency projects.
The Power N.Y. Act will allow for the first power plants to be built in New York since a previous law expired in 2003.
The law will include several new environmental protection measures.
The new program for homeowners and businesses will allow them to take out low-interest loans from the state for energy efficiency improvements and pay back the loans through their utility bills.
Cuomo’s announcement is expected Thursday afternoon.