Half Moon Ventures, a solar and wind project developer based in the US city of Chicago, has announced its first PV system in New York which has been constructed on the rooftop of the iPark Hudson, an eight building residential complex.
Said to be one of the largest solar projects in the state of New York, the multi-million dollar installation has been constructed on four different rooftops covering a total area of 110,000 square feet. It is equipped with 3,700 PV modules and two on-site inverters.
“As a developer and owner with a fervent interest in sustainability and preserving resources, we thought this arrangement with Half Moon made great sense for the National Resources business model,” said Joseph Cotter, president of National Resources, which owns i.Park Hudson.
“Anything that helps us operate as a responsible member of the community, take good care of our tenants, and improve our asset is a welcome development. Half Moon's wealth of experience in sustainable energy made them the logical choice to work with us on this.”
“This site is a good fit for solar because it has enough rooftop square footage to locate the panels and inverters, because the cost of electricity in this region is fairly high, and because the tenant base consumes enough electricity to make the cost savings significant,” Michael Hastings, CEO of Half Moon Ventures said. “Using the 110,000 square feet of rooftop, we'll generate enough power on-site to ease demand on the grid by about 15 percent and ease the owner's operating costs considerably.”
The PV array is expected to generate 1.2 million kWh of electricity annually which is be enough to provide 15% of the complex’s annual electricity needs. The company adds that the modules —which have a life expectancy of 20 years — will generate the most energy in the summer, when energy is most expensive, and least in the winter, when electricity is at its cheapest.