Serious Materials recently won the bid to retrofit all 6,500 windows at the Empire State Building.
Schwarzenegger says the new, more efficient windows will help cut energy costs at the iconic New York City skyscraper in half.
"And because they are so efficient, they will pay for themselves within three years. So, what it costs to replace all of those windows, and install this new technology, they will get back in three years," he said.
Schwarzenegger also announced the signing of a bill designed to make it easier for California homeowners and businesses to install more energy efficient windows themselves.
The new law sets aside $30 million in loans for retrofits, which can be repaid through assessments added to your property tax bill.