Con Edison Customers See Power in the SunNEW YORK, NY, Oct 20, 2009 (MARKETWIRE via COMTEX) -- Attractive government incentives and changes to the state's net
metering law are encouraging more Con Edison customers to go green
with alternative energy. And the sun is the most popular source of
energy among those looking to use distributed generation, or
electricity generated onsite by customers' equipment.
The company received 111 applications for distributed generation
(http://www.coned.com/dg) in all of 2008. This year, the company has
already received more than 120 applications, the vast majority for
"Customers are not only submitting more applications; they're also
submitting applications for larger projects," said John J. Mucci, Con
Edison's vice president for engineering and planning. "We encourage
our customers to find ways to reduce their energy consumption and make
use of clean, renewable energy sources."
The company has been working closely with customers and solar panel
contractors to ease converting to photovoltaics (PVs), and government
has supported the effort. The state expanded its net metering program,
allowing larger residential solar projects to net meter and making
Net metering allows customers to reduce their bills and even sell
excess power they generate from alternative sources to the company
through a rolling credit on their bills. Residential customers are
reimbursed for excess solar generation at the end of the year.
The new law increased the size of eligible solar PV systems to 25
kilowatts (kW) for residential customers and up to 2 megawatts or the
customer's peak load (the lower of the two) for commercial customers.
The typical residential customer has a 6-kW solar installation and
can save about $1,400 per year.
The New York State Energy Research and Development Authority
(NYSERDA) offers those who have commercial PV systems installed $3 a
watt for the first 40 kilowatts and $2 a watt for each kilowatt after
40 kilowatts up to 80 kilowatts. For residential systems, NYSERDA
offers $3 a watt for the first four kilowatts and $2 a watt for each
kilowatt after four kilowatts up to eight kilowatts.
Another new state law allows a property tax break for PV systems in
New York City. Building owners in the city can save 8.75 percent a
year for four years of the eligible amount they spend on a PV system.
The program carries a maximum abatement of $62,500 a year.
Of 90 applications received by the company as of June 30th this year,
49 were from Westchester, the vast majority of which were for solar
Among New York City's five boroughs, the Bronx is No. 1 with 14
applications. All are for solar, five are for installations of more
than 40 kilowatts and 10 are non-residential. The company has
received eight applications each from Brooklyn, Queens and Manhattan,
and three from Staten Island.
Con Edison is a subsidiary of Consolidated Edison, Inc. (NYSE: ED),
one of the nation's largest investor-owned energy companies, with
approximately $14 billion in annual revenues and $34 billion in
assets. The utility provides electric, gas, and steam service to more
than 3 million customers in New York City and Westchester County, New
York. For additional financial, operations, and customer service
information, visit Con Edison's Web site at www.coned.com.
SOURCE: Con Edison Co. of NY, Inc.