G&S Solar and AVANA Capital are developing over 50 rooftop community solar projects in New York. AVANA is financing the portfolio and G&S Solar has already begun construction on 14 of those projects.
“As a lifelong New Yorker and Con Edison resident, I am excited to see our projects go live in my backyard, serving New York building owners and residents by helping them save money on their utility bills while also contributing to the state’s clean energy goals,” said David Katz, senior director at G&S Solar. “While these projects involve complex zoning and permit regulations, we believe so strongly in our mission that we will continue to seek out properties to make solar projects more readily available in this region.”
G&S Solar was initially founded as a real estate development company. In 2009, it started adding solar arrays to its own properties to reduce the cost of electricity for its tenants.
The program was so successful, it was expanded to provide commercial building owners the opportunity to lease rooftop space for community solar installations that provide electricity savings to customers throughout the New York market.
“These projects will allow New Yorkers to not only save money on their electric bills but also help building owners create additional value by monetizing their unused roof space. These projects equalize the benefits of solar for all, by allowing people who might not be able to put solar on their own roof to enjoy the savings from solar energy,” said Walter Cuculic, EVP of renewable energy, AVANA Capital.
