The Real Deal New York

NYC real estate interests embrace cheap solar

As prices fall, alternative energy cannot be ignored

January 04, 2015 11:23AM

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The Atelier at 635 West 42nd Street

Last year, Governor Andrew Cuomo announced plans to invest more than $1 billion in solar energy projects, with the goal of increasing the state’s solar power by 10-fold by 2023. But increasingly, New York City real estate players are embracing solar technology out of pure self interest. 

As solar technology becomes cheaper, it’s harder for NYC builders and building managers to ignore, according to CNBC. For instance, brokerage River 2 River Realty, which operates the Atelier at 635 West 42nd Street, has partnered with Samba Energy, a Manhattan-based solar company, to bring solar panels to its buildings.

“We’re having our next solar phase coming in the spring, and we’re going to add another 100 panels to the side of the building [the Atelier],” Neiditch told CNBC. “That will give us another 10 percent of our energy. So overall we’re looking at about $120,000 in savings per year. We’ve already made back our money from our initial investment after a year and a half.”

According to a study by Environment Ohio, an environmental advocacy group, NYC has a solar capacity of over 30 megawatts, or enough energy to power more than 4,500 homes. [CNBC]Christopher Cameron

  • Ron Winton

    Large projects like these or even smaller residential solar projects should consider the use of new lower cost higher efficiency Hyper X 2 solar panels that produce energy from both sides of the solar panels. This advanced technology has been around for the past 6 years but it was always considered to be far too expensive to install. Now because of new technological advances Hyper X 2 Bifacial solar panels can be purchased at a much lower cost than many standard single sided solar panels.

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    And they offer a very high 94.3% PTC to STC performance ratio. They also offer a heat resistant -0.28%/degree C temperature coefficient for better performance in warm/hot climates. And a minus 60 degree C extreme cold temperature rating. And when it comes to aesthetics, nothing even comes close to Hyper X 2’s panel’s glass on glass, see through, frameless construction.

    With N-type mono-crystalline bifacial cells for double sided power production, up to a 22% efficiency rating, superior aesthetics, and a price that outcompetes the solar lease and PPA company’s offerings, very few products on the market compares to Hyper X 2 Solar. http://vimeo.com/115095026

  • Skinny

    The panels are cheap because they are subsidized by you and I. Take away the subsidy and see how many panels are installed. It will be a nice round number, zero.

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