RGS Energy will install 1MW of solar capacity at an apartment complex in Kew Garden Hills, New York.
The rooftop systems will offset around 35% of the 930 apartments’ electricity demand. It is estimated that they will save residents at Georgetown Mews around US$250,000 in the first year after installation.
"By combining the benefits of NYSERDA rebates, a Federal Tax Credit, NYC property tax abatement, and Con Ed's buy-back of solar-generated electricity via net metering, RGS Energy is able to deliver significant cost savings to our cooperative by going solar," said James Goldstick, VP of Mark Greenberg Real Estate, the managing agent for Georgetown Mews.
Electricity from the install will be credited to the bills of residents.
"RGS Energy was the first solar company to install a commercial net-metered system to the Con Ed Grid, and is paving the way for greater adoption of remote net-metering,” said Jared Haines, VP of sales for RGS Energy's commercial division. “In fact, this housing cooperative will be among the first to take advantage of remote net-metering in New York,” said Haines.
The state of New York has a goal to install 3GW of solar by 2023.