NEW YORK, NY–(Marketwire – Apr 10, 2012) – As a businessman, John Pantanelli is always looking for ways to cut expenses. As a dad who enjoys outdoor sports with his children, he wants to reduce greenhouse gas emissions.
Pantanelli achieved both goals when he took advantage of lucrative government incentives and purchased a nearly 50-kilowatt solar generating system for his company’s warehouse and office building in Long Island City, Queens.
“We’ve cut our electric bills dramatically,” said Pantanelli, the owner of Swing Staging Inc. “That’s money that we can put into building our business. And as an outdoorsman, I’m happy to help protect the environment. I want my children and all future generations to enjoy a safe, clean planet.”
Con Edison encourages its customers to look into whether they can save money by installing photovoltaic panels on their homes and businesses.
The company is a key player in the 100 Days of Solar initiative, which aims to reduce the solar application process to 100 days, and is working with the City University of New York and the U.S. Department of Energy’s Solar America City program on initiatives in Mayor Michael Bloomberg’s PlaNYC 2030, including increasing solar on city buildings.
Con Edison provided technical assistance to help build the New York City Solar Map (www.nycsolarmap.com), which provides information on the solar potential of buildings. Con Edison also has a site (www.coned.com/es) that allows customers to submit solar applications online.
For a company like Pantanelli’s, the decision to generate electricity from the sun’s rays can pay off.
The New York State Energy Research and Development Authority (NYSERDA) put $87,000 toward the $250,000 solar array. In addition, Swing Staging will get federal tax credits and New York City property tax breaks, reducing its costs to $90,000.
Factor in savings on electricity and depreciation and Swing Staging can expect to recoup its investment in less than five years.
NYSERDA’s Regional PV Program provides $150 million over five years to encourage large businesses, especially manufacturers, colleges and universities in New York City, Westchester and the lower Hudson Valley to use renewable energy. There is also a Solar PV Program for homeowners, small businesses and nonprofits.
Swing Staging, which provides scaffolding, platforms and other construction equipment, selected Mercury Solar Systems of Port Chester, N.Y. to design and install the system.
Con Edison is pursuing a strategy of adding solar to its system while trying to avoid cost increases for ratepayers. Con Edison customers have installed 702 solar projects for a total of 11.8 megawatts of electricity. (See a breakdown by region by clicking here: http://www.coned.com/newsroom/pdf/regional-breakdown-of-solar-installations.pdf).
Customers can also go to: http://www.coned.com/dg/solarenergy/default.asp. The site includes links to the NYC Solar America City site (http://www.cuny.edu/about/resources/sustainability/solar-america.html) and sites that explain the financial incentives governments offer. The site also includes information on net metering, the practice of allowing customers to use their panels to reduce their bills and even sell excess power back to Con Edison.
Con Edison is a subsidiary of Consolidated Edison, Inc. (NYSE: ED), one of the nation’s largest investor-owned energy companies, with approximately $13 billion in annual revenues and $39 billion in assets. The utility provides electric, gas and steam service to more than 3 million customers in New York City and Westchester County, New York.
Consolidated Edison, Inc. is a Dow Jones Sustainability Index (DJSI) company. The global Carbon Disclosure Project (CDP) ranks Consolidated Edison, Inc. as the only utility in the CDP’s SP 500 2011 Carbon Performance Leadership Index and #1 among SP 500 utility companies in the 2011 Carbon Disclosure Leadership Index. Consolidated Edison, Inc. has been recognized for its environmental performance by the U.S. Environmental Protection Agency, the U.S. Department of Energy and other organizations. For information, visit www.conEd.com, our green site, www.conEd.com/thepowerofgreen, or Facebook at Power of Green.
