ALBANY, N.Y. (AP) — A state-sponsored competition is offering financial incentives for "carbon neutral" building projects.

The New York State Energy Research and Development Authority will administer the $30 million "Buildings of Excellence" competition announced Wednesday. Officials say it's part of the state's clean energy goals aimed at reducing greenhouse gas emissions.

The competition will reward building construction and operation projects that reduce energy costs for residents while offering developers a competitive edge with predictable revenue and cost projections.

Democratic Gov. Andrew Cuomo says the competition is part of his goal to transform New York's entire building stock as part of his Green New Deal clean energy and jobs agenda.