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The New York State Energy Research and Development Authority (NYSERDA) is a New York-based public benefit corporation with a focus on energy and the use of it in New York state. Its stated goal is to reduce the consumption of petroleum in the state. It funds research and development that is dedicated to its goal.Other goals of the organization include reducing greenhouse gas emissions, accelerating economic growth, and reducing customer energy bills.
NYSERDA has provided capital to more than 1,000 startups and organizations, mostly in the form of grants. Industries in which the corporation has invested include battery manufacturing, electronic car-charging stations, light manufacturing, and more. It has also made more than 75 exits from companies such as Verizon Communications and Lockheed Martin.
The corporation also provides education about energy usage on its website through articles that are organized according to topics for residents and homeowners as well as businesses and governments.
