The first Solar Feed-in-Tariff in the state of the New York is here! The Long Island Power Authority’s (LIPA) Feed-In-Tariff (FIT), also known as the LIPA Clean Solar Initiative (CSI), was formally approved by the LIPA Board on June 28. This is a real game-changer for the large-scale commercial solar market on Long Island.
The LIPA FIT, also known as the “LIPA Tariff for Electric Service” represents a highly attractive opportunity for Long Island businesses and owners of large commercial properties. If you have a facility with a useable roof area in excess of 50,000 square feet, or useable land areas in excess of 2 acres, this new LIPA solar Feed-in-Tariff can provide a compelling financial proposition, whether you choose to own the system yourself (and realize all of the associated federal & state solar incentives) or simply lease your unutilized roof areas (no capital outlay, just receive rental revenue for use of roof).
The LIPA FIT offers large-scale photovoltaic (PV) system owners a fixed cash payment for every kilowatt-hour (kWh) produced by the system for the first 20 years of system life. This long-term and contractual cash flow stream provides system owners with a highly visible revenue source.
If you are a business or real estate owner on Long Island and are interested in learning more about the program, please contact EnterSolar today.