EDF Applauds NY Legislature's Approval of Energy Efficiency Program

Bill to make energy savings available to New Yorkers taps federal stimulus
funds

NEW YORK, Nov. 16 /PRNewswire-USNewswire/ -- Environmental Defense Fund
applauded the New York State Legislature today for passing historic
legislation to save property-owners money by increasing energy efficiency in
buildings.

The federal stimulus bill - The American Economic Recovery Act - includes more
than $450 million for Property Assessed Clean Energy (PACE) financing programs
to help defray the upfront cost to property-owners for building retrofits and
efficiency improvements to save on energy bills. The bills passed today
ensure New York's eligibility for the funds by allowing municipalities to
administer them.

"This legislation is an economic shot in the arm that also pays environmental
benefits," said Mary Barber, New York Region Campaign Director for
Environmental Defense Fund. "Now the state is well-positioned to get its
fair share of federal stimulus funds to enable thousands of New Yorkers to
save millions of dollars in energy costs."

Retrofits of older buildings can create an immediate 20 to 40 percent
reduction in energy costs, leading to major savings for building-owners and
their tenants. However, many people cannot afford the initial cost of
installing energy efficiency and clean energy technology, such as
double-insulated windows or solar panels. The PACE-enabling legislation
allows municipalities to lessen significantly the impact of these costs by
creating an extended loan program for building-owners that lets them pay for
the improvements over a long period of time - up to 20 years - instead of all
at once.

Environmental Defense Fund, a leading national nonprofit organization,
represents more than 700,000 members. Since 1967, Environmental Defense Fund
has linked science, economics, law and innovative private-sector partnerships
to create breakthrough solutions to the most serious environmental problems.
For more information, visit www.edf.org.

Contact: Mary Barber, (212) 616-1351, mbarber@edf.org
Evan Thies, (917) 715-9265, erthies@yahoo.com

SOURCE Environmental Defense Fund

Mary Barber, +1-212-616-1351, mbarber@edf.org, or Evan Thies, +1-917-715-9265,
erthies@yahoo.com