News: Long Island

SUNation completes rooftop solar system for Perfume Center of America; selected Kulka Construction to build out 830,000-watt system

SUNation Solar Systems has completed its construction and installation of the second largest, privately owned, commercial rooftop solar project in Long Island history through its contract with Perfume Center of America (PCA). Long Island's largest solar installer was selected by Kulka Construction Corporation to build-out the 830,000-watt system and install 2,674 solar panels on the rooftop of the new Perfume Center of America, now located at 2020 Ocean Ave. Perfume Center of America will be moving from its current location in Plainview to its brand new 180,000 s/f headquarters later this summer. The new facility will become the home to over 100 employees - making it one of the most environmentally-friendly and energy efficient buildings in the region. The solar installation will decrease operational expenses and lower PCA's carbon footprint while offsetting 95% of its electrical usage over time (drastically reducing their dependence on local energy provider PSEG). "We decided to go the solar route to be more environmentally responsible. This move allows us to reduce our overhead and operational costs while maintaining our Long Island roots," said Kanak Golia, president/CEO, Perfume Center of America. "Through this commercial solar installation, we decrease our carbon footprint by reducing the use of fossil fuels, and we will preserve our environment." The $1.6 million project is environmentally friendly, and it will provide Perfume Center of America with a positive return on investment. Anticipated cost savings will include a $66,000 PSEG rebate, a $454,200 federal tax credit, and $476,153 Modified Accelerated Cost Recovery System (MACRS) depreciation. As one of the largest solar projects in the region, this initiative is a prime example of how solar energy can create tremendous cost savings for commercial property owners and tenants. "Our solar installation project with Kulka Construction and Perfume Center of America demonstrates that businesses can redirect financial resources to business growth, hiring and innovation. It produces a win-win-win outcome by using the latest solar technology and design while leveraging rebates and tax credits," said Scott Maskin, president and CEO, SUNation Solar Systems. Providing the latest in solar design and technology featuring Q CELL solar panels, SUNation Solar Systems' construction and installation process started in April 2015 and was completed in late June 2015. The building is expected to go online in August 2015.
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The evolving relationship of environmental  consultants and the lending community - by Chuck Merritt

The evolving relationship of environmental consultants and the lending community - by Chuck Merritt

When Environmental Site Assessments (ESA) were first part of commercial real estate risk management, it was the lenders driving this requirement. When a borrower wanted a loan on a property, banks would utilize a list of “Approved Consultants” to order the report on both refinances and purchases.