NY Mayor Michael Bloomberg helped kick off a new program that uses the East River to generate power on Roosevelt Island. It's the first time anyone has derived renewable energy from the natural flow of water.

Six underwater turbines, anchored deep within the East River, use the water flow and tidal changes to create 1,000 kilowatt hours of clean electricity per day.

The world's first kinetic hydropower provides electricity for several businesses on Roosevelt Island, including a supermarket and parking lot.

Renewable energy developer Verdant Power is the city's partner in the project, which could grow quickly.

"The East River could become home to more then 300 turbines, producing an annual amount of energy equivalent to 68,000 barrels of oil. I think that's a lot of oil," said Bloomberg. "It is certainly enough to power up 8,000 homes every year."

The kinetic energy project is part of Bloomberg's plan to cut greenhouse gas emissions in the city by 30 percent by 2030.

The Mayor also announced that the city is buying electricity generated through wind power, as well as putting out bids to install solar panels on city-owned buildings.