Hochul announces more than $37 million to help New York clean energy startups reach the market

Albany, New York – New York will put more than $37 million toward helping clean energy businesses move their ideas through development and into the market, Governor Kathy Hochul announced. The funding will support four business accelerators through the state’s new Commercialization Cohort initiative.

Each accelerator will serve companies at a different point in their development. Startups and entrepreneurs will receive training, mentoring, and funding tailored to their stage, with the aim of developing clean energy solutions cost-effectively and getting those technologies into use more quickly.

“New York is investing in businesses that drive statewide technological innovation to improve energy efficiency, strengthen resiliency and grow our economy,” said Governor Hochul. “Building systems that support product development and strengthen local supply chains will spur private investment in clean energy and make it more accessible to consumers.”

The New York State Energy Research and Development Authority, known as NYSERDA, will oversee the initiative. It will choose the organizations that run the accelerators through three competitive funding rounds, covering early development, pilot projects, market entry, and commercial expansion.

The first round is now open. Eligible New York-based businesses, nonprofit organizations, academic institutions, and research organizations can submit proposals to administer two of the four accelerators. This application period is for prospective program administrators; startups seeking accelerator services will have a separate opportunity to apply.

One administrator will receive up to $8.4 million to establish and operate a pre-seed accelerator focused on early-stage development. A second will receive up to $11.6 million for a Series A-B accelerator that helps companies develop go-to-market strategies and carry out their first commercial pilot projects.

Both require a minimum 20 percent cost share from sources other than NYSERDA. The two accelerators are expected to begin accepting applications from startups and companies in early 2027.

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“NYSERDA is proud to support commercialization services that provide clean energy startups and entrepreneurs with the tools to grow and advance business models which will build upon New York’s strong energy innovation ecosystem. This updated program reflects Governor Hochul’s ongoing commitment to the clean energy transition and complements existing State and local resources to help bring forward innovative clean energy deployment and economic growth,” said NYSERDA President and CEO Doreen M. Harris.

Proposals for the first funding round must be submitted by 3 p.m. ET on December 2, 2026. Information about the funding opportunity and submission process is available through NYSERDA’s website.

Organizations considering a proposal can also attend an informational webinar on October 16, 2026, from 1:30 to 2:30 p.m. ET. NYSERDA will explain the solicitation, outline project requirements, and provide details about the proposal process.

The remaining two accelerators will be addressed in later funding rounds. NYSERDA plans to open those competitions in early 2027 to select administrators for a Seed accelerator focused on first pilot projects and a Series B-C accelerator supporting later-stage commercial scale-up.

Together, the four programs are designed to provide support across successive phases of business and product development. Their separate focus areas reflect the different needs of a company developing an early idea, testing a product, entering the market, or expanding commercial operations.

“I am proud of New York State’s continued investments in clean energy innovation, under Governor Hochul’s leadership. These efforts not only secure a more safe, affordable, and reliable grid for New Yorkers, but also attract best-in-class businesses that are driving the clean energy future. Early support, pilot projects, and commercialization show what is possible while furthering private investment in our communities,” said New York State Public Service Commission Chair Rory Christian.

State officials also linked the initiative to broader efforts to build businesses and attract investment. Alongside the development of clean energy products, the program is intended to help companies establish and expand their operations in New York.

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“Turning promising ideas into successful businesses is essential to building New York’s next generation of industries. Under Governor Hochul’s leadership, we’re creating an environment where clean energy innovators can attract investment, scale their operations and build lasting roots in our state. This initiative will help strengthen New York’s competitive advantage in a rapidly growing industry while supporting new businesses, creating good-paying jobs and driving long-term economic growth,” said Empire State Development President, CEO and Commissioner Hope Knight.

The Commercialization Cohort initiative supports NYSERDA’s wider Innovation and Research program. That program invests more than $96 million annually to attract energy innovators, lower risks for private investors, and address obstacles that prevent clean energy technologies from reaching customers across the state.

According to the announcement, the Innovation and Research program generates $15 in additional investment for every dollar spent. NYSERDA has worked with more than 900 companies whose efforts have helped bring over 300 products to market for consumers, businesses, and utilities.

Money for the new initiative comes through the New York State Public Service Commission’s 2025 Innovation and Research Order. The order provides funding for statewide clean energy innovation and research programs covering 2026 through 2030.

The announcement also outlined New York’s Clean, Highly Affordable, Reliable Grid Expansion agenda, known as CHARGE. The plan combines efforts to maintain dependable electricity service and control costs with the goal of achieving a reliable grid that produces zero emissions.

Its five priorities are reducing consumer costs, holding energy companies accountable, building clean energy at scale, upgrading aging grid infrastructure, and developing a clean economy that supports family-sustaining jobs.

Measures identified under CHARGE include the Ratepayer Protection Plan, major transmission construction, and a planned 8.4-gigawatt “Nuclear Backbone.” The agenda places ratepayers at the center of efforts to build an energy system that is affordable, resilient, and more self-sufficient while advancing the state’s clean energy goals.