Piece Management Inc. (PMI) has partnered with The Long Island Power Authority (LIPA) and EmPower Solar to complete a 117 kW solar panel installation on its New Hyde Park, N.Y., facility.
The solar installation was made possible through LIPA's Solar Entrepreneur program and is the largest commercial system to be installed since the program's inception, according to LIPA. The new PV system will reduce PMI's electric bill by 75% annually.
The cost of the PV system was $734,000. LIPA, through its Solar Entrepreneur Program, provided a significant rebate of $237,563, which helped to reduce the out-of-pocket expense for the system. In addition, PMI may be able to further reduce the cost of the system via federal and state tax incentives.
SOURCE: Long Island Power Authority