Diamond Properties has completed one of the largest rooftop solar photovoltaic systems in the state of New York at its property at 100 Brook Hill Drive, West Nyack.
The 2,497 kilowatt facility was completed as part of a three-property project that also included La Quinta, 116 Newtown Rd, Danbury, CT, 150 Callendar Road, Watertown, CT, and 333 North Bedford Road, Mount Kisco, NY.
With the sites in production since last fall, Diamond Properties has more than doubled its solar portfolio in the span of a year.
The solar investments made by Diamond Properties allow its tenants, local businesses, to benefit from solar energy while reducing their electric bills.
“I don’t think that tenants choose a building just because it’s got solar power, but I think when they’re evaluating their options, and all things being equal, a green building is always appealing,” said Jim Diamond, CEO of Diamond Properties.
Solar at the Watertown site is projected to offset 93 percent of annual energy needs of its current tenant, Shelter Logic, a manufacturer of shade, shelter and storage products.
At the West Nyack site, a 71 percent energy offset is projected for its tenants, Intercos, a cosmetics company, and PDI, a manufacturer of professional disposables such as cleaning wipes.
Tn Danbury, CT, a La Quinta Inn and Suites, is projected to offset 18 percent of its annual energy needs with the newly installed solar.
Diamond Properties worked with New York-based Safari Energy, LLC to develop and construct all of the projects.
The three sites were selected for their large, unshaded roofs, high electricity rates, and the availability of state solar incentives.
Diamond Properties and Safari Energy worked together with M&T Bank to reduce the necessary capital outlay by utilizing M&T Bank’s solar operating lease product.
“It is exciting when the actual results outperform the financial model by a few percentage points,” said Diamond.