ALBANY, N.Y. (AP) - Gov. Andrew Cuomo is proposing to create a "Green Bank" to spur private investment in clean energy projects.
In his State of the State address Wednesday, Cuomo says various state entities now collect and spend $1.4 billion a year on renewables and energy efficiency, with 80 percent of the spending in the form of one-time subsidies.
He said his proposal would encourage more private market activity in clean energy, create jobs, and reduce consumer prices for renewable and energy efficient energy sources.
(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)