Richard L. Kauffman (born February 10, 1955) is the first
New York State
New York, also called New York State, is a state in the northeastern United States. Bordered by New England to the east, Canada to the north, and Pennsylvania and New Jersey to the south, its territory extends into both the Atlantic Ocean and ...
"
energy czar
Energy Czar, and also later Climate Czar, is a nickname, using the political term "czar", for the person in the government of the United States given authority over energy or climate policy within the executive branch. This has never been the o ...
," officially referred to as the ''Chairman of Energy and Finance for New York'' in the administration of
New York Governor
The governor of New York is the head of government of the U.S. state of New York. The governor is the head of the executive branch of New York's state government and the commander-in-chief of the state's military forces. The governor ha ...
Andrew Cuomo
Andrew Mark Cuomo ( , ; born December 6, 1957) is an American politician and lawyer who served as the 56th governor of New York from 2011 until his resignation in 2021. A member of the Democratic Party and son of former governor Mario Cuomo, ...
. In this role, Kauffman is New York State's most senior energy official, responsible for all aspects of energy policy and agency operation, and leads the state's "Reforming the Energy Vision" initiative.
Early life and education
Kauffman attended
Phillips Academy
Phillips Academy (also known as PA, Phillips Academy Andover, or simply Andover) is a Private school, private, Mixed-sex education, co-educational college-preparatory school for Boarding school, boarding and Day school, day students located in ...
in
Andover, Massachusetts
Andover is a town in Essex County, Massachusetts, United States. It was Settler, settled in 1642 and incorporated in 1646."Andover" in ''Encyclopedia Britannica, The New Encyclopædia Britannica''. Chicago: Encyclopædia Britannica Inc., 15th ed. ...
and earned a bachelor's degree in African History at
Stanford University
Leland Stanford Junior University, commonly referred to as Stanford University, is a Private university, private research university in Stanford, California, United States. It was founded in 1885 by railroad magnate Leland Stanford (the eighth ...
. He earned a master's degree in international relations from
Yale University
Yale University is a Private university, private Ivy League research university in New Haven, Connecticut, United States. Founded in 1701, Yale is the List of Colonial Colleges, third-oldest institution of higher education in the United Stat ...
, and a master’s in public and private management from the
Yale School of Management
The Yale School of Management (also known as Yale SOM) is the graduate school, graduate business school of Yale University, a Private university, private research university in New Haven, Connecticut. The school awards the Master of Business Admi ...
.
Private sector career
In 1993, Kauffman joined
Morgan Stanley
Morgan Stanley is an American multinational investment bank and financial services company headquartered at 1585 Broadway in Midtown Manhattan, New York City. With offices in 42 countries and more than 80,000 employees, the firm's clients in ...
where he became vice chairman of the firm’s
Institutional Securities Group, which provides institutions with services such as capital raising and financial advisory services including mergers and acquisitions advisory, restructurings, real estate and project finance, and corporate lending. Kauffman also served co-head of Morgan Stanley's Banking Department, and vice chairman and a member of the European Executive Committee of Morgan Stanley International.
[https://www.linkedin.com/pub/richard-kauffman/a5/35b/27b ]
In 2004, Kauffman became a partner at
Goldman Sachs
The Goldman Sachs Group, Inc. ( ) is an American multinational investment bank and financial services company. Founded in 1869, Goldman Sachs is headquartered in Lower Manhattan in New York City, with regional headquarters in many internationa ...
where he chaired the firm's Global Financing Group, and was a member of the Partnership Committee, Commitments Committee, and Investment Banking Division Operating Committee.
In 2006, Kauffman assumed the role of Chief Executive Officer for Good Energies, Inc., one of the largest private equity funds specializing in clean energy.
Obama administration
In 2011, Kauffman joined the
U.S. Department of Energy
The United States Department of Energy (DOE) is an executive department of the U.S. federal government that oversees U.S. national energy policy and energy production, the research and development of nuclear power, the military's nuclear we ...
to serve as Senior Advisor to Secretary
Steven Chu
Steven Chu[capital markets
A capital market is a financial market in which long-term debt (over a year) or equity-backed securities are bought and sold, in contrast to a money market where short-term debt is bought and sold. Capital markets channel the wealth of savers t ...](_blank)
experience to the Department's efforts to
address climate change and drive adoption of
renewable energy
Renewable energy (also called green energy) is energy made from renewable resource, renewable natural resources that are replenished on a human lifetime, human timescale. The most widely used renewable energy types are solar energy, wind pow ...
and
energy efficiency Energy efficiency may refer to:
* Energy efficiency (physics), the ratio between the useful output and input of an energy conversion process
** Electrical efficiency, useful power output per electrical power consumed
** Mechanical efficiency, a rat ...
technologies. He was also responsible for overseeing the DOE Loan Programs Office from the Office of the Secretary at a time when the DOE Loan Program was receiving criticism for several troubled loans that had been made prior to Kauffman's involvement. As he and others predicted at the time, the DOE Loan Program's portfolio is now generating a net profit on funds loaned to clean energy companies.
Chairman of Energy and Finance for New York
In January 2013, New York Governor Andrew Cuomo announced the appointment of Kauffman as the ''Chairman of Energy and Finance for New York'', a newly created role with operational oversight for New York State's complete energy portfolio. In this capacity, Kauffman directly manages the
New York Department of Public Service, the
New York Power Authority
The New York Power Authority (NYPA) is a public benefit corporation owned by the State of New York and is the largest state public power utility in the United States. It provides some of the lowest-cost electricity in the nation, operating 16 ge ...
, the
Long Island Power Authority
Long Island Power Authority (LIPA, "lie-pah") is a municipal subdivision of the State of New York that owns the electric transmission and electric distribution system serving all of Long Island and a portion of Queens in New York City known as ...
, and the
New York State Energy Research and Development Authority
The New York State Energy Research and Development Authority (NYSERDA), established in 1975, is a New York State public-benefit corporation, located in Albany, New York, with regional offices in New York City, Buffalo, and West Valley.
NYSERDA ...
(NYSERDA). In June 2013, he was appointed chair of NYSERDA’s board. Through coordinated management of these agencies, Kauffman leads the state's efforts to animate clean energy markets and deploy clean energy technology, referred to collectively as "Reforming the Energy Vision."
Reforming the Energy Vision (REV)
Kauffman leads New York State’s Reforming the Energy Vision (REV) initiative, which has the stated goal of creating "a cleaner, more affordable, more modern and more efficient energy system in New York, through the increased development of distributed energy resources, like rooftop solar, energy efficiency, and battery storage." REV refers to a diverse set of policy actions taken by New York State to remake its energy system, both by altering state-level energy regulatory structure, and by simultaneously providing evolving support for clean energy research, finance, and deployment.
REV regulatory proceeding
In April 2014, under the leadership of Kauffman and
New York Public Service Commission
The New York Public Service Commission is the public utilities commission of the New York state government that regulates and oversees the electric, gas, water, and telecommunication industries in New York as part of the Department of Public Ser ...
Chair Audrey Zibelman, the NYPSC began a regulatory reform process for New York's
electric utility
An electric utility, or a power company, is a company in the electric power industry (often a public utility) that engages in electricity generation and distribution of electricity for sale generally in a regulated market. Electric utilities are ...
business. Kauffman, Zibelman, and Department of Public Service (DPS) Staff have articulated a wide variety of policy objectives for the REV Regulatory Proceeding in an attempt to modernize the electrical grid system, including the promotion of more efficient energy use, deeper penetration of renewable energy resources such as
wind power
Wind power is the use of wind energy to generate useful work. Historically, wind power was used by sails, windmills and windpumps, but today it is mostly used to generate electricity. This article deals only with wind power for electricity ge ...
and
solar power
Solar power, also known as solar electricity, is the conversion of energy from sunlight into electricity, either directly using photovoltaics (PV) or indirectly using concentrated solar power. Solar panels use the photovoltaic effect to c ...
, and wider deployment of
Distributed Energy Resources
Distributed generation, also distributed energy, on-site generation (OSG), or district/decentralized energy, is electrical generation and storage performed by a variety of small, grid-connected or distribution system-connected devices referred ...
, such as
microgrids
A microgrid is a local electrical grid with defined electrical boundaries, acting as a single and controllable entity. It is able to operate in grid-connected and off-grid modes. , on-site power supplies, and
energy storage
Energy storage is the capture of energy produced at one time for use at a later time to reduce imbalances between energy demand and energy production. A device that stores energy is generally called an Accumulator (energy), accumulator or Batte ...
. The reform also seeks to promote greater use of advanced energy management products to enhance demand elasticity and efficiencies, and monetize operational efficiency for the electrical grid. Also stated is a larger goal of transforming electric utilities into Distributed System Providers (DSPs) that can manage and appropriately value a diverse set of Distributed Energy Resources.
Clean Energy Fund (CEF)
Another component of the "Reforming the Energy Vision" initiative is the Clean Energy Fund (CEF) administered by
NYSERDA
The New York State Energy Research and Development Authority (NYSERDA), established in 1975, is a New York state public-benefit corporations, New York State public-benefit corporation, located in Albany, New York, with regional offices in New York ...
, a $5 billion commitment to support renewable energy and efficiency markets under the new REV Regulatory Proceeding framework. When filing for the funds, NYSERDA requested, "greater levels of flexibility to move funds within each of the CEF portfolios" to respond to evolving energy market realities. The proposal received positive feedback from clean energy advocates including the
Sierra Club
The Sierra Club is an American environmental organization with chapters in all 50 U.S. states, Washington, D.C., Washington D.C., and Puerto Rico. The club was founded in 1892, in San Francisco, by preservationist John Muir. A product of the Pro ...
.
NY Green Bank
In 2014, Kauffman and NYSERDA established NY Green Bank, a state-funded specialized financial entity designed to increase private investment in renewable energy and energy efficiency projects which have had difficulty accessing financing. NY Green Bank has the stated goal of facilitating financing of more reliable and efficient energy and reducing greenhouse gas emissions. It also seeks to address market barriers in clean energy financing markets and increasing overall capital availability through various forms of financial support. These support methods may include credit enhancement, project aggregation, and securitization. The organization has committed to working exclusively in partnership with private sector lenders to leverage its funds with private capital. NY Green Bank is the largest Green Bank in the nation.
NY-Sun
Governor Cuomo and Kauffman announced the NY-Sun solar program in April 2014, intended to expand deployment of solar capacity throughout the state. The $1 billion program is intended to provides long-term, stable incentive funding over a 10-year period to support
photovoltaic
Photovoltaics (PV) is the conversion of light into electricity using semiconducting materials that exhibit the photovoltaic effect, a phenomenon studied in physics, photochemistry, and electrochemistry. The photovoltaic effect is commercially ...
(PV) solar projects throughout New York, with the ultimate goal of transitioning New York's solar industry to a sector that can function without subsidy support.
NY Prize
In February 2015, the Cuomo administration announced NY Prize, a $40 million "Community
Microgrid
A microgrid is a local electrical grid with defined electrical boundaries, acting as a single and controllable entity. It is able to operate in grid-connected and off-grid modes. " competition for New York. Microgrids are local energy networks that are able to separate from the larger electric grid during extreme weather events or emergencies, and provide power to the grid when needed. Microgrid technology can combine solar, wind, hydro or combined heat and power systems for local power generation.
Board memberships and awards
In 2014, Kauffman was listed as one of
Fortune Magazine
''Fortune'' (stylized in all caps) is an American global business magazine headquartered in New York City. It is published by Fortune Media Group Holdings, a global business media company. The publication was founded by Henry Luce in 1929. T ...
's World's Top 25 Eco-Innovators alongside notable figures including
Elon Musk
Elon Reeve Musk ( ; born June 28, 1971) is a businessman. He is known for his leadership of Tesla, SpaceX, X (formerly Twitter), and the Department of Government Efficiency (DOGE). Musk has been considered the wealthiest person in th ...
and
Bill McKibben
William Ernest McKibben (born December 8, 1960)"Bill Ernest McKibben." ''Environmental Encyclopedia''. Edited by Deirdre S. Blanchfield. Farmington Hills, Mich.: Gale, 2009. Retrieved via ''Biography in Context'' database, December 31, 2017. is a ...
.
Kauffman has served as Chairman of the Board of
Levi Strauss & Co.,
as well as on the boards organizations including the
Brookings Institution
The Brookings Institution, often stylized as Brookings, is an American think tank that conducts research and education in the social sciences, primarily in economics (and tax policy), metropolitan policy, governance, foreign policy, global econo ...
, the
Wildlife Conservation Society
The Wildlife Conservation Society (WCS) is a global 501(c)(3) organization, 501(c)(3) non-governmental organization, headquartered at the Bronx Zoo in New York City, with a mission to save "wildlife and wild places across the globe". Founded in ...
,
The New School
The New School is a Private university, private research university in New York City. It was founded in 1919 as The New School for Social Research with an original mission dedicated to academic freedom and intellectual inquiry and a home for p ...
, the
Alvin Ailey American Dance Theater
Founded in 1958, the Alvin Ailey American Dance Theater (AAADT) is the largest modern dance company in the United States.Dance Data Project (October 2024) 2024 Largest Contemporary and Modern Companies Report
Alvin Ailey American Dance Theater ...
, and the
New York Philharmonic
The New York Philharmonic is an American symphony orchestra based in New York City. Known officially as the ''Philharmonic-Symphony Society of New York, Inc.'', and globally known as the ''New York Philharmonic Orchestra'' (NYPO) or the ''New Yo ...
. He has served on the
Yale School of Management
The Yale School of Management (also known as Yale SOM) is the graduate school, graduate business school of Yale University, a Private university, private research university in New Haven, Connecticut. The school awards the Master of Business Admi ...
Board of Advisors, and is currently Co-Chair of th
Yale Center for Business and the Environment Advisory Boardwhere he also teaches.
He also serves on the board of the
Wallace Foundation
The Wallace Foundation is a national philanthropic organization based in New York City that seeks to foster improvements in learning and enrichment for disadvantaged children and the vitality of the arts for everyone. The foundation aims to devel ...
and is a member of the
Council on Foreign Relations
The Council on Foreign Relations (CFR) is an American think tank focused on Foreign policy of the United States, U.S. foreign policy and international relations. Founded in 1921, it is an independent and nonpartisan 501(c)(3) nonprofit organi ...
.
References
{{DEFAULTSORT:Kauffman, Richard
1955 births
Living people
Phillips Academy alumni
Stanford University alumni
Yale School of Management alumni
Obama administration personnel
State cabinet secretaries of New York (state)
United States Department of Energy officials
Goldman Sachs people