SARATOGA SPRINGS, N.Y. (NEWS10) – An official ribbon cutting was held in Saratoga Springs on Tuesday to mark the beginning of the city’s newest project, a solar park.

Almost 8,000 solar panels were installed here at the old landfill in Saratoga Springs and according to the group (NYSERDA), it should generate about 40 percent of the city’s energy requirements.

“This project is 2.5 megawatts which is a small portion of the 3 gigawatts we’re funding, have funded and are going to fund,” David Sandbank, Director of NY SUN at New York State Energy Research and Development Authority (NYSERDA), said.

This project began in 2012 after the city applied for a grant through the NYSERDA. The project is part of the Governor’s $1 billion NY SUN Competitive PV program that stretches across the state.

“We’re building a portfolio for GE in upstate NY,” John Drexinger, ONYX Renewable Partners, said.

“This project is one of many of this scale and of this size but it’s also we have a pipeline right now of many of these types of projects going forward,” Sandbank said.

How it works is the city will pay ONYX for the electricity produced by the solar panels, the electricity will then be directed to National Gird and then National Grid will in turn credit the city for the amount it generated.

Gov. Andrew Cuomo started this billion dollar initiative as a way to move the state closer to solar power reliance. This is all to get one step nearer to the requirements laid out in the State’s Clean Energy Standard, which says that 50 percent of the electricity in New York has to come from renewable sources by 2030. So the solar park will be just one of hundreds across the state.

“Solar has increased over 800 percent since 2011 in New York State. We have over 8,000 solar jobs in the state,” Sandbank said.

Right now, there are almost 900 solar projects that are in the process of being installed in New York.