NYC BUILDING OWNERS

Benefit from lending out your rooftops!

As a NYC building owner, you will be able to lease your rooftop to help your community go green, as well as make some extra cash!

Our Current Offerings

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For buildings with rooftops above 2,000 sqft:

 

Roof Lease: No money down, with a standard or escalating 20 year roof lease payment to owner. We will pay you typically $0.50-$0.70 per square ft per year + $4.00-$5.00 per square ft paid over 4 years for the Property Tax Abatement.

Cash or Finance Purchase: Here you would pay the full price of the system upfront, but you would get many different incentives and tax credits to use the following year. You would own the system and it would be recommended to sign a 20 year operations and maintenance contract to insure the solar system works as it is supposed to. 

 

The incentives include:

NY Sun: incentive worth 10-15% of the project cost, which is taken off the upfront cost. 

Federal Investment Tax Credit: incentive worth 30% of the project cost, credited off your federal income tax when you file your taxes for the year it was installed.

MACRS Depreciation + 40% Bonus: This incentive is worth ~25% of the project costs over a period of five years. As a building owner, you are eligible to deduct this “loss in value” from your taxable income when used for your business. If you are running a profitable business, and you can show that the solar power you are generating is for business use (as opposed to personal use), then it may have a strong impact on reducing your bottom line. For our calculations, we assume that our clients maintain a 35% tax rate. Your personal rate will likely vary. 

Property Tax Abatement: a 4 year property tax credit worth 20% of the total cost of the project (5% per year)

Total Incentives: approximately 85% off the total project cost. So you will own the system and essentially pay $0 for any of the electricity generated. This method will typically result in a 2-4 year payback of the system, with another 21-23 years of free solar electricity.  

 

Note: If any improvements need to be done to the roof to allow this project to happen, we can lump any of those costs into the total project cost and they will be eligible for the same incentives. 

 

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For buildings with rooftops under 2,000 square ft

 (1-3 family residential buildings):

 

Power Purchase Agreement (PPA): No money down, any solar you generate on the roof you will pay a reduced electric rate. You currently pay around $0.21/kWh for your electricity, so we would offer a $0.14/kWh rate for any solar produced on the roof over a 20 year contract. We will own and operate the solar array, so you will not need to worry about the system operation. You will also receive a 4 year Property Tax Abatement (PTA) worth 20% of the total cost of the project (5% per year). For example a 1,000 square foot building could have a 10 kW solar system on it, which produces 12,000 kWh/yr. So you would save $840/year on your electricity bills and you would receive a Property Tax Credit of $2,000 per year for 4 years. Since electricity prices go up about 3% per year, you will save more on your electricity rate every year because your PPA rate of $0.14/kWh would say the same and your utility rate would go up.

Cash or Finance Purchase: Here you would pay the full price of the system upfront, but you would get many different incentives and tax credits to use the following year. You would own the system and it would be recommended to sign a 20 year operations and maintenance contract to insure the solar system works as it is supposed to. 

 

The incentives include:

NY Sun: incentive worth about ~10% of the project cost, which is taken off the upfront cost. 

Federal Investment Tax Credit: incentive worth 30% of the project cost, credited off your federal income tax when you file your taxes for the year it was installed.

NY State Tax Credit: incentive worth 25% of the project cost or $5,000 (whichever is less), credited off your NY state income tax when you file your taxes for the year it was installed.

Property Tax Abatement: a 4 year property tax credit worth 20% of the total cost of the project (5% per year)

Total Incentives: approximately 85% off the total project cost. So you will own the system and essentially pay $0 for any of the electricity generated. This method will typically result in a 2-4 year payback of the system, with another 21-23 years of free solar electricity.  

 

Note: If any improvements need to be done to the roof to allow this project to happen, we can lump any of those costs into the total project cost and they will be eligible for the same incentives. 

Ready to Get Started?

Just send us a few details about your building and we can put together a detailed estimate within one business day.

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