New York continues to "go green." (Courtesy Rickshaw Diaries)
Vice President Joe Biden announced nearly half-a-billion dollars in stimulus funding today to promote green retrofits nationwide, and the biggest winner, according to a Bloomberg administration release, is New York State, which took home $40 million of the $452 million pot. The money will go to two programs, the PACE loan program and Green Jobs-Green New York. The former provides low- or no-interest loans to property owners who buy energy efficient building materials, including insulation, solar panels, and geo-thermal systems, which are then paid back through taxes and utility payments, though the retrofits average out to 20 to 30 percent on energy usage over the life of the product. And Green Jobs-Green New York provides funding to launch training programs so there are capable workers who can build, install, and maintain this new wave of high-tech devices.