The New York State Housing Finance Agency worked to the finance the $736,000 cost of the solar arrays with the New York Green Bank, an investment fund set up in 2014 by the New York State Energy Research and Development Authority.
The project was also financed in part by Morgan Stanley, enabling Workforce Housing Group to refinance part of its debt and to cover the cost of installing broadband and Wi-fi (with speeds of 200-940 megabytes per second).
Thanks to the project, residents of 22 apartment buildings will have free access to Wi-fi for four years and workforce Housing Group will save on utility bills — $48,000 in the first year and $1.2 million over 20 years according the experts from the group here Comes Solar – a programme of the non-profit Solar One. The savings will also help Workforce Housing Group repay credits needed to complete the project.
From 2015 to 2020, solar generation in the housing sector in New York State rose by 4 ½ times – from 249 to 1,146 GWh, according to data from the Energy Information Agency of the U.S. Department of Energy. Last year, it accounted for one-third of the state’s entire solar generation (1,146 GW of 3,422 GWh). But the overall share of solar power in the state’s total energy production remains small at 3 %, according to 2020 figures.
The use of solar panels in Russian housing is only at a very beginning stage. One of the first projects that is to be installed concerns a multi-storey apartment building in the “Smart House” complex in the city of Ufa in the central region of Bashkortostan. The building’s facade is to be equipped with systems provided by the Hevel group, with the power used to operate lifts and lighting, the Bashkortostan regional government told the Tass news agency last month.