Kyocera recently announced plans to invest in a tax equity partnership for the development of solar photovoltaic (PV) projects in New York valued at $38 million, leveraging the 30% federal energy investment tax credit. As part of the investment, Kyocera has also entered into an agreement with U.S. Light Energy (USLE) to use Kyocera solar modules on all installations. USLE (formerly New York Light Energy) is in the final stages of installing 9.4 megawatts (MWDC) of PV systems, with the expectation that the installations will be completed by June.
“Kyocera’s tax equity investment with USLE enables commercial buildings and schools to benefit from environmentally friendly solar power with no up-front investment,” said Steve Hill, president of Kyocera Solar Inc.
Kyocera’s solar tax equity investments reportedly allow commercial power users to experience immediate cost savings, and to reinvest that money into their businesses while gaining visibility into their long-term energy costs. USLE reportedly intends to provide a reduction of at least 20% in net electricity costs through its Power Purchase Agreements, as compared to conventional grid electricity.
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