Energize NY Commits to First Commercial PACE Financing in Suffolk County

Nov 14th 2016

PHOTO 1: JD Wings property owned by Engs 98, Inc. Photo by installer:  Harvest Power. 

Energize NY is off to a fast start in Suffolk County, its newest member municipality, having committed to finance a 42.6 kW roof-mounted solar system for a restaurant facility in Centereach. The $136,000 system, which is under construction, is expected to offset 65% of the improved area's electric usage, saving the owner approximately $4,800 annually, over and above the cost of financing.

The building owner found PACE financing to be a perfect fit. Not only will the owner receive flexible, 12-year financing at 4.7% for 70% of the cost, but the financing, which will be repaid on the property’s tax bill, automatically transfers to a new owner in the event the building is sold.

Energize NY is actively working with seven clean energy projects in Suffolk County, totaling $1.12 million in potential PACE financing.  Read more about Energize NY PACE financed projects here. 

 

PHOTO 2: Rooftop solar system during construction, Nov 14, 2016, on JD Wings. System installer: Harvest Power