Con Edison Media Relations
September 24, 2012
SOLAR PANELS ARE 'ALL IN THE FAMILY'
FOR CON EDISON CUSTOMER IN WESTCHESTER
Brothers Let the Sun Shine on Business, Next Generation
MOUNT KISCO, NY – Peter and Steve Finkelstein believe their business and their children will be healthier thanks to the solar panels they placed atop their auto parts store and warehouse in Westchester County.
The Finkelstein brothers, who own Mount Kisco Truck & Auto Parts, have dramatically reduced their electric bills since April, when they installed 40 kilowatts of solar generation on the roof.
|Peter and Steve Finkelstein |
"It's been a great investment from a business standpoint," Steve Finkelstein said. "But it's more than that. My brother
and I both have kids and Peter and Steve Finkelstein
we'd like them to enjoy clean air and good health."
Lucrative government incentives and net metering made solar attractive for the Finkelsteins.
The New York State Energy Research and Development Authority (NYSERDA) put $73,000 toward the $194,000 cost of the panels. The business will also get $36,000 in federal tax credits, reducing their costs to $85,000.
With depreciation and savings on electricity, the business will get a payback on its investment in less than five years.
"When we considered how quickly the payback would come, this just made sense to us," Peter Finkelstein said. "We've been in business for nearly 100 years and we plan on being here for a long time."
The business was started in 1916 by Steve and Peter's grandfather, Joseph Finkelstein, who passed it to their father, Elliot Finkelstein. Steve and Peter took over in 1990. The business sells auto and truck parts to fleets, repair shops and individuals.
Con Edison continues to work with customers to make it easier to install photovoltaic panels on their homes and businesses. The company supports policies that encourage the development of solar power without increasing costs to ratepayers.
A company website, http://www.coned.com/dg/solarenergy/, explains the economic and environmental benefits of solar, the installation process and net metering.
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.
Con Edison provided technical assistance to help build the New York City Solar Map (www.nycsolarmap.com), which provides information on the solar potential of buildings. The company also shortened the approval process for customers who want to install residential systems (those under 25 kilowatts).
Customers in New York City and Westchester County have completed 900 solar projects producing 16 megawatts of electricity.
Con Edison is a subsidiary of Consolidated Edison, Inc. [NYSE: ED], one of the nation's largest investor-owned energy companies, with approximately $13 billion in annual revenues and $40 billion in assets. The utility provides electric, gas and steam service to more than three million customers in New York City and Westchester County, New York. For additional financial, operations and customer service information, visit us at www.conEd.com, at our green site, www.coned.com/thepowerofgreen, or find us on Facebook at Power of Green.
Consolidated Edison, Inc. is in the global Carbon Disclosure Project's (CDP) S&P 500 2012 Carbon Disclosure Leadership Index (CDLI) and has been recognized by the CDP for six years in a row. Consolidated Edison, Inc. also has been recognized for its environmental performance by the U.S. Environmental Protection Agency, the U.S. Department of Energy and other organizations.