We’ve been busy the last few years adding solar power to more than 100 properties in six states. And 2013 is full of bright promise for much more solar power activity! With careful analysis, we continue to make the best choices about where to add solar power. This year, we expect to invest about $15 million to add solar panels to around 40 to 50 additional properties. As we move forward in 2013, Extra Space Storage continues to grow into an even more sustainable company with these additional solar power installations, as well as other sustainability projects.
Powering New York with Solar
What’s different about our solar progress in 2013 is that we’ll add solar power to properties in New York City and Long Island for the first time! We’re expanding our solar reach into these areas because of Feed-In Tariff (FIT) programs from New York State Energy Research and Development Authority (NYSERDA) and Long Island Power Authority (LIPA). These programs pay owners of eligible properties a fixed rate for generated solar power.
With the help of NYSERDIA and LIPA, we’ll likely add solar power to all of our wholly owned properties in the region, including six properties in the greater New York City area and Long Island properties in Plainview, Hicksville, Centereach, Hauppauge, Ridge and Bohemia. That’s 12 properties that will be producing solar power in the New York City area by the end of 2013!
NYC Solar will Yield Positive ROI, Cleaner Energy
Since utility costs are very expensive in the New York City area compared to the rest of the state, these FIT programs are a great fit! With the help of NYSERDIA and LIPA, adding solar to properties in the region will yield a positive return on investment (ROI), and help produce cleaner energy for the region for many years to come.
Evaluating Sunlight in NYC
We carefully evaluate properties to make sure we’re putting solar panels in areas that will have ample sunlight throughout the day. While blocked sunlight isn’t a problem in Long Island, New York City is a little tricky with all its tall buildings. Since most of our properties in the city are about five to 10 stories high, we’re in good shape to receive enough sunlight. Additionally we partner with solar experts and do calculations and field surveys to ensure we place our panels in areas that will help us generate the most solar power.
Solar Progress in Other States
With new programs in Colorado and Pennsylvania, we’re also looking into adding solar power to properties in those states for the first time. In addition to these new areas, we’ll continue to add solar power in Hawaii, California, Maryland, New Jersey, Ohio and Massachusetts. Since we’re always growing, we can place a fresh solar focus on newly acquired properties in those six states.
Now that you’re up to speed on our solar power plans, I hope you’ll check back soon for more updates for 2013, including some continued developments in lighting that will help us save more energy!
Have you considered adding solar power to your home or business? If not, have you researched the various incentives for adding solar power to your property?