News: Spotlight Content

U.S. Energy Group introduces new initiative in solar energy - USE Solar

U.S. Energy Group, which has established itself as an industry leader in helping property managers reduce fuel consumption and monitor their buildings, has introduced USE Solar, a new initiative in solar energy. The USE Solar project focuses on the potential for large multifamily residential and commercial buildings to make use of solar power to decrease their electricity usage, and reaffirms U.S. Energy Group's commitment to decreasing energy use, energy costs, and the environmental impact of New York's buildings. U.S. Energy Group has selected "The Renee" building, a six story 120 unit co-op, located at 78-40 164th St. as the "beta-test site" for their new solar initiative - tied to their USE Manager Internet-based monitoring system. The Renee, also houses the company's headquarters and is the beta-site for its Energy Management Systems (EMS). Because the roof of The Renee has very little shading, it is uniquely suited for a solar project. "I am thrilled to bring solar energy to the Renee," said Jerry Pindus, founder and CEO of U.S. Energy Group. "We are developing energy sources and technologies and processes that will help control and monitor electricity usage and achieve immediate savings, while capturing available government energy credits and tax benefits. U.S. Energy Group is on a continuing quest to help buildings operate more efficiently, and this project reaffirms our commitment to alternative energy. We anticipate The Renee will become a showcase for installing affordable and commercially viable solar energy." Solar power refers to the conversion of radiant energy from the sun into electricity. In this case, solar panels to be installed on the roof of the Renee will convert sunlight into DC electricity where it will be routed into the utility room, converted to AC (usable) electricity and tied into the common area electric panel for direct use in the building. Quixotic Systems, Inc. and Tristate Solar, Inc. are working with U.S. Energy Group on the Renee and will install a 24.85 KW photovoltaic system on the roof. Quixotic is designing the system and Tristate is working as a project integrator and figuring out the mounting and wiring. With average weather projections, the solar system will provide 17%-20% of the Renee's common-use space electricity. Additionally, the system is projected to prevent the production of approximately 27,139 pounds of carbon dioxide each year. NYSERDA, the New York State Energy Research and Development Authority, is supportive of alternative energy initiatives and has offered a $100,000 rebate incentive for this project.
MORE FROM Spotlight Content

Over half of Long Island towns vote to exceed the tax cap - Here’s how owners can respond - by Brad and Sean Cronin

When New York permanently adopted the 2% property tax cap more than a decade ago, many owners hoped it would finally end the relentless climb in tax bills. But in the last couple of years, that “cap” has started to look more like a speed bump. Property owners are seeing taxes increase even when an
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
The strategy of co-op busting in commercial real estate - by Robert Khodadadian

The strategy of co-op busting in commercial real estate - by Robert Khodadadian

In New York City’s competitive real estate market, particularly in prime neighborhoods like Midtown Manhattan, investors are constantly seeking new ways to unlock property value. One such strategy — often overlooked but
Properly serving a lien law Section 59 Demand - by Bret McCabe

Properly serving a lien law Section 59 Demand - by Bret McCabe

Many attorneys operating within the construction space are familiar with the provisions of New York Lien Law, which allow for the discharge of a Mechanic’s Lien in the event the lienor does not commence an action to enforce following the service of a “Section 59 Demand”.
How much power does the NYC mayor really have over real estate policy? - by Ron Cohen

How much power does the NYC mayor really have over real estate policy? - by Ron Cohen

The mayor of New York City holds significant influence over real estate policy — but not absolute legislative power. Here’s how it breaks down:

Formal Legislative Role

Limited direct lawmaking power: The NYC Council is the primary
Oldies but goodies:  The value of long-term ownership in rent-stabilized assets - by Shallini Mehra

Oldies but goodies: The value of long-term ownership in rent-stabilized assets - by Shallini Mehra

Active investors seeking rent-stabilized properties often gravitate toward buildings that have been held under long-term ownership — and for good reasons. These properties tend to be well-maintained, both physically and operationally, offering a level of stability