Half Moon Ventures, LLC (HMV), a Chicago-based developer of solar and wind energy projects, unveiled its first solar electric power generation system in N.Y. at a ceremony on the roof of i.Park Hudson, joined by mayor Mike Spano and Joe Cotter, principal of real estate development firm National Resources of Greenwich. The multi-million dollar installation - which blankets as much s/f of rooftop as two professional football fields - when operational, will generate energy for the many users of electricity housed in the 24-acre technology, office and industrial complex.
"We are thrilled to bring this cutting-edge solar energy system to i.Park Hudson in Yonkers at no cost to the state, county, city or landlord," said Michael Hastings, CEO of Half Moon Ventures. "The environmental benefits, including easing demand on the grid and reducing carbon emissions, are tremendous. There are many other benefits as well. This is a win-win on a very large scale and we hope that this project provides a template and role model for future commercial energy projects here in New York and beyond."
Hastings cited numerous other advantages of solar power projects like the installation at i.Park Hudson, including: reducing energy costs; locking-in electric power rates for the long-term in a volatile environment; financing major infrastructure improvements; increasing property values; and creating jobs. In the case of i.Park Hudson, where tenants include heavy consumers of electricity such as Kawasaki Rail Cars, the solar energy system will provide as much as 15% of the power to the complex, dramatically reducing its reliance on Con Edison's system, especially during peak use summer hours.
"The city of Yonkers is proud to be home to Westchester County's largest commercial rooftop solar power system," said Yonkers Mayor Mike Spano, who as a member of the State Assembly co-sponsored of the New York Solar Industry Development and Jobs Act. "Private sector investments such as this play an important role in helping to blaze the trail toward a greener, stronger New York."
"As a developer and owner with a fervent interest in sustainability and preserving resources, we thought this arrangement with Half Moon made great sense for the National Resources business model," said Joseph Cotter, president of National Resources, which owns i.Park Hudson. "Anything that helps us operate as a responsible member of the community, take good care of our tenants, and improve our asset is a welcome development. Half Moon's wealth of experience in sustainable energy made them the logical choice to work with us on this."
At i.Park Hudson, which is home to the city of Yonkers, Westchester County, the New York State Division of Motor Vehicles, St. Joseph's Hospital, Skil-Care Corporation and others, as well as Kawasaki Rail, the solar panels are housed on four different roof areas across the eight-building complex. Two on-site inverters will convert the panel-generated power from direct current (DC), the form in which it is generated, to alternating current (AC), the form in which it is consumed.
"This site is a good fit for solar because it has enough rooftop s/f to locate the panels and inverters, because the cost of electricity in this region is fairly high, and because the tenant base consumes enough electricity to make the cost savings significant," Hastings said. "Using the 110,000 s/f of rooftop, we'll generate enough power on-site to ease demand on the grid by about 15% and ease the owner's operating costs considerably."
William Fetterley, Half Moon's chief operating officer and an American Institute of Architects associate with a number of major power-generation projects under his belt, notes that the solar and wind company is scouting this region for more opportunities where either model is feasible.
"We believe there are a number of commercial properties in this region that are good candidates for solar power - whether it's roof-mounted like at i.Park or ground-mounted where there's enough land for that. Especially in regions like the Northeast, where electricity is expensive, solar is a solid proposition for all concerned," Fetterley said.
Half Moon expects to have the system at i.Park Hudson fully operational by mid-December. When complete, it will generate more than 1.2 million kilowatt hours of electricity a year - enough to power over 120 homes for a year - while removing the equivalent of the annual harmful greenhouse emissions of over 160 cars from the environment. Because of the climate and meteorological considerations, the panels, which have a life expectancy of 20 years, will generate the most energy in the summer, when energy is most expensive, and least in the winter, when electricity is at its cheapest.
Shown (from left) are: councilman Michael Sabatino; council president Chuck Lesnick; councilman Christopher Johnson; Michael Hastings, CEO of Half Moon Ventures; developer Erik Rucker; Spano; Cotter; and Ray Melarczik of Tancora, Inc.
ABOUT HALF MOON VENTURES
Half Moon Ventures, LLC (HMV) is a full service energy provider. The HMV team has contributed to more than 2,000 megawatts of wind and solar energy projects around the world. From development through operations, HMV designs, builds and operates custom energy systems to meet the needs of large commercial property owners, educational institutions, corporations and other organizations. HMV's services include project development (resource evaluation, feasibility studies, permitting, environmental engineering and design, financial forecasting) and construction and operations activities (project finance, incentive procurement, installation, construction, monitoring, facilities operation and maintenance services). Tags: