While our country confronts the enviromental disaster in the Gulf Coast, we're reminded yet again of the need to transition to clean energy sources. New York City and State is taking the lead by constructing the ‘Solar Pipeline’, which includes a Solar Map and Solar Empowerment Zones that will integrate solar energy into our nation’s largest city and most complex grid.
New York City and Sustainable CUNY have created three Solar Empowerment Zones, strategically selected areas where solar power systems are most beneficial and technically viable, and where development of solar power will be encouraged. Solar power is a reliable, renewable source of electricity for New York City that reduces demand on the City's electrical grid.
New York City has over 1.6 billion square feet of rooftops.
The three Solar Empowerment Zones - on the East Shore of Staten Island, in Downtown Brooklyn, and in Brooklyn's Greenpoint-Gateway section-were designed to reduce peak electricity demand and the associated pollution from dirty plants that operate when demand is at its highest, while also potentially deferring or eliminating the need for costly upgrades to the electrical system.
Solar Panel Tax Abatements & Installations
Record Number of New Yorkers Have Applied for Solar Panel Abatements in 2010. To encourage the use of sustainable technology, the City offers property tax abatements to property owners that install solar panels on their building's rooftops.
This year, property owners will receive a property tax abatement of 35% of the eligible expenditures over four years with a maximum abatement of $62,500 per year for four years or the building's annual tax liability, whichever is less.
Under the solar panel tax abatement program, solar panels have been installed at 25 buildings across the City, five times the number of systems approved and installed last year. Savings from these installations vary on the size and type of the building. A single-family house can save approximately $2,600 a year on energy costs. Property owners can also receive rebates from their utility company.
Interested in buying a new green (LEED) certified condo recently built or under construction in Manhattan? Go to nycnewdevelopments fill out the buyer form and write green in the comment section. I will send you email listings of green condos that match your buying criteria.
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Real estate questions and referrals are always welcomed. ©Mitchell Hall 2006-20010
Real estate questions and referrals are always welcomed.
©Mitchell Hall 2006-20010