The Solar Lease is Here!

In a historic move, LIPA just gave companies approval to offer the solar lease to customers, and EmPower Solar—the No. 1 solar installation company in LIPA territory—is ready.

The lease allows customers to immediately reduce or eliminate their electric bill and pay a simple solar payment that is up to 50 percent lower than their current fee. And, with a 20 year warranty offered by SunPower, the solar panel manufacturer, customers are guaranteed to save big.

The solar lease is a unique product. A third party financing company owns the system, uses the rebates and tax incentives to purchase the system and subsequently offers a low-cost monthly payment to homeowners. EmPower’s lease partner is SunPower Corporation, the same company that manufactures the panels.

While the solar lease is new to Long Island, it has become an extremely popular choice for residents in California—the first state to approve the solar loan. According to a recent Forbes article, “How Solar is Democratizing Solar for the 99%”, nearly two-thirds of solar customers opted to lease their system in 2011.

Similarly, EmPower Solar has also seen a significant amount of customers go solar with the lease in New York City, where this financing option was made available earlier this year.

With the lease in LIPA territory, you can look forward to reducing or eliminating your $200+ electric bill and immediately roll into monthly savings of $100 or more with the program’s low monthly payments. With an average residential system, you will save over $1,000 a year.

Additional benefits include:

-25% tax credit of $5,000, paid out over multiple years
-20-year SunPower production guarantee
-The most powerful panels on the planet

With the elimination (or extensive reduction) of their electric bill, this will results in huge savings for homeowners.

For immediate inquiries, please call our sales department at 516-837-3459×1. If you haven’t worked with one of our representatives already, you may contact our Sales Associate, Ali DeCarlo, directly by e-mail at adecarlo@empower-solar.com.

We look forward to EmPowering you.

Solar Incentives: Past, Present, Future

Solar installations in America increased 60% between 2007 and 2011 — an impressive leap given the financial crisis — and forecasts indicate that the industry will continue to grow briskly in the next five years.

Why is that? First and foremost, it’s due to American entrepreneurship, ingenuity and risk taking, driven simultaneously by the profit motive and a genuine desire to better the world. Secondly, smart government policy has spurred the industry.

While not all government subsidies have been positive, the incentives that have gone directly to the consumer are great. And, with the reelection of Barack Obama, homeowners and businesses can expect to see the 30% federal income tax credit stick around until 2016.

The federal tax credit, combined with state and LIPA rebates, helps to dramatically decrease the cost of solar and increase demand. In fact, the cost has decreased more than 50% in the past five years. In 2007, the average residential system was $80,000. Today, it can be as low as $36,000 and in New York, shrink to $8,500 after incentives.  As incentives decrease at the same rate as the system cost, the return on investment remains great.

While government incentives have helped the solar industry, not all “green” policy is good. As part of the American Recovery and Reinvestment Act another incentive that was introduced was the loan guaranty program (originally conceived under the Bush administration).  This program came under intense scrutiny last year after the high profile failure of Solyndra and several other companies, which has cost American taxpayers more than $1 billion thus far.

The loan program is something EmPower Solar doesn’t support because we believe it’s wrong for the government to take specific company risk; this is what private capital is for. However, the policy is partially defensible because the government was trying to encourage Americans to purchase solar from U.S. companies rather than relying on China, which is providing cheaper options.

In addition to homeowner incentives, the best way to build a dynamic domestic solar industry is to promote and enhance the conditions that continue to make the United States the premier country to start and grow a business.

We are envied around the world for our vibrant democracy, rule of law, unparalleled education and amazing culture and patriotism. Let’s continue to build on our strengths as we invest in renewable resources like solar!

Freeport Fire Department Announces Completion of 51.7 Kilowatt Solar System

On Monday (November 29, 2011) the Village of Freeport, NY and Freeport Electric held a press conference to announce the completion of a 51.7 kilowatt (kW) solar electric system, which was engineered and installed by EmPower Solar at the Freeport Fire Department Headquarters.  The design includes168 SunPower 308 Watt modules, and a SatCon 50 kW inverter.

Street view of completed solar installation.

Freeport Mayor Andrew Hardwick said “There are many ways a municipality can go green and Freeport has instituted several steps to reduce its carbon footprint.”  Along with the solar power system at the Firehouse, the Village of Freeport has purchased several hybrid cars, a hybrid bucket truck, and replaced 340 street lights with an energy efficient alternative.  EmPower has also installed a number of solar residential and commercial systems in the Village of Freeport.

EmPower engineer Emily Hwang, served as the project engineer, and was recognized by Freeport Electric’s Superintendent, Anthony Fiore, for her high quality work and dedication.  All the EmPower team members, including engineers and installers, deserve recognition for their seamless execution of this complicated project.  Cameron Engineering was also instrumental to the structural engineering design.

First row of panels get installed on fire house rooftop.

In his remarks, EmPower CEO David G. Schieren said “The Village of Freeport and Freeport Electric should be commended for its vision and leadership in making this solar project a reality.  Municipalities have a critical role to play in advancing renewable energy, and the importance of their leadership can’t be overstated.”

Freeport Village Officials, Freeport Electric Officials, and EmPower CEO, David Shieren pose for Group shot in front of firehouse.

EmPower is especially grateful to Freeport Electric’s Superintendent Anthony Fiore and Supervisor of Electric Service Les Endo Jr. for their impressive commitment to this project.  Their support and technical understanding are making solar energy a reality in the Village.

Many large installations like this one are done on flat roofs and are not visible to the public.  This installation is unique because it is on a pitched roof and directly across the street from the Freeport LIRR Train Station.

See the official press release here.

FREE presents award at 34th Annual Celebration of Life Gala

David G. Schieren, CEO of EmPower Solar, was honored to receive an award from FREE at the 34^th Annual Celebration of life Gala held earlier this month. Family Residences and Essential Enterprises, a not-for-profit that provides community living for disabled people in Nassau and Suffolk counties, presented the award in recognition of David’s instrumental role in helping the organization implement the 800 kW solar project that is estimated to provide over $5.2 Million in savings over 25 years.

David was honored to share the award with the following co-honorees: Bob Catell – Chairman, Advanced Energy Research and Technology Center (AERTC) at New York State University at Stony Brook.  Kevin Law – President and Chief Executive Officer, Long Island Association.  Michael Hervey – Chief Operating Officer, Long Island Power Authority.  Yakov Shamesh – Vice President for Economic Development, Dean of the College of Engineering and Applied Sciences, Stony Brook University.

The FREE solar project, one of the largest investments in renewable energy on Long Island to date, converted 44 sites over to solar power, helping reduce annual utility expenses by 27 percent.  The savings will allow FREE to focus its resources on increasing the quality of life for more than 3,000 people on Long Island through crucial “life services” and related social and educational programs.

“Reach high, achieve more.  The Family Residences and Essential Enterprises credo resonates with EmPower.  FREE is a remarkable and inspiring organization that provides vital services to our region.  It demonstrates how organizations can play a key leadership role in cleaning the air and reducing dependence on fossil fuels, while making smart financial investments.  They’ve inspired us to reach high and achieve more.  Of course I accepted this award on behalf of my business partner and our COO Greg Sachs, and the entire EmPower team that took this project on with such gusto, determination and precision.  Moving Forward”– David G. Schieren

Solar Increases Home Value

There are many reasons to add a solar energy system to your home. The reduction or elimination of your electric bill is certainly compelling. Of course, reducing dependence on fossil fuels and protecting the environment are extremely important as well. While each of these reasons drives thousands of people in our area to go solar each year, there is another equally important reason to go solar; it increases your home’s value.

In the past, this has been very difficult to quantify.  Real estate brokers and appraisers had little information to go on, and lenders were often skeptical about any increases in market value attributed to solar energy systems.

That has changed in a big way. There are several recent studies that illustrate the value that a solar energy system can add to your home. Two in particular, performed by the Lawrence Berkeley National Laboratory and The National Bureau of Economic Research, have shown that homes with solar energy systems can command a 3 – 4% premium over homes without solar energy systems.  On a $400,000 house for example, that equals $12,000 – $16,000!  Not bad considering, that the average “net” cost of a 10 KW solar energy system after rebates and tax credits is around $17,000.

Now, the Appraisal Institute, the largest real estate appraisal organization in America has taken the next step. They have developed the “Residential Green and Energy Efficient Addendum” that appraisers can use to document and analyze a home’s energy efficient items, including solar energy systems. This is an extremely important development, because it allows appraisers to compile and analyze data needed to support adjustments for solar energy systems.

Soon, in areas with high utility rates (like Long Island); appraisers will be able to capitalize the documented monthly savings on utility bills into a specific value adjustment, much like the income from a rental unit.

What does all this mean to New Yorkers who have solar energy systems? It means that when you sell your home, you will get significantly more money for it than homes without solar energy systems. This is just one more reason to go solar!