The New York State Energy Research and Development Authority (NYSERDA) is a public benefit corporation created in 1975 by the New York State Legislature.

NYSERDA administers the New York Energy $mart program, which is designed to support certain public benefit programs during the transition to a more competitive electricity market. Some 2,700 projects in 40 programs are funded by a charge on the electricity transmitted and distributed by the State's investor-owned utilities. The New York Energy $mart program provides energy efficiency services, including those directed at the low-income sector, research and development, and environmental protection activities.

NYSERDA derives its basic research revenues from an assessment on the intrastate sales of New York State's investor-owned electric and gas utilities, and voluntary annual contributions by the New York Power Authority and the Long Island Power Authority. Additional research dollars come from limited corporate funds. Some 400 NYSERDA research projects help the State's businesses and municipalities with their energy and environmental problems. Since 1990, NYSERDA has successfully developed and brought into use more than 170 innovative, energy-efficient, and environmentally beneficial products, processes, and services. These contributions to the State's economic growth and environmental protection are made at a cost of about $0.70 per New York resident per year.

Federally funded, the Energy Efficiency Services program is working with more than 540 businesses, schools, and municipalities to identify existing technologies and equipment to reduce their energy costs.