29 Jun Buffalo Solar Expands Commercial Solar Sector; Solar Installations Generate Enough Revenue to pay for Themselves.
Buffalo Solar Expands Commercial Solar Sector
Solar Installations Generate Enough Revenue to pay for Themselves.
Buffalo, NY – Buffalo Solar announced recently that it is expanding its commercial solar sector business in New York and nearby states. This expansion will enable more businesses to reach their green, renewable energy goals while maximizing New York State solar incentives, and leveraging 100% financing options for their solar installations. Currently there are a mix of newly available financing options that offer significant benefits to commercial building owners, as well as some tax incentives that will be reduced at the end of 2022, and further reduced at the end of 2023, making now the time to act for any company considering solar.
“Expanding our commercial base is a response to a marketplace need. We know business owners are looking to save in any way possible right now, and we can help,” said Tyler Uebelhoer, Founder and CEO of Buffalo Solar. “Many businesses would opt for solar if they knew about the available incentives and solar financing opportunities, and that’s where we come in, starting with education. We arm our customers with the knowledge they need in order to determine if solar is the right fit for them. Most of them see the significant benefits of switching to solar power and make the decision to do so.”
Buffalo Solar has completed installations in 15 counties in New York State, and just completed their largest installation to date at Ivoclar Group, in Amherst NY, the New York headquarters for the international company. The installation at the 100,000 square foot facility is expected to provide more than 750 MWh of clean energy, with overage being returned to the grid for supply to the community. For the nearly $1 Million project, Buffalo Solar installed 1,640 solar panels, which will generate approximately 65% of Ivoclar’s annual energy needs and prevent nearly 532 metric tons of CO2 emissions annually.
Buffalo Solar | 3279 Walden Ave, Depew, NY 14043 | (716) 800-7775 | www.buffalosolar.com
Congressman Brian Higgins, whose district includes Ivoclar, supported legislation establishing, extending and improving the federal Investment Tax Credit (ITC) and is a member of the House Ways and Means Committee which oversees tax policy. The Investment Tax Credit provides a 26% federal tax credit on the cost of solar projects. Congressman Higgins said, “The Investment Tax Credit provides an incentive for businesses to make the transition to clean and renewable power, lowering energy costs and contributing to a healthier environment and stronger economy. It’s great to see these credits put to use in Western New York.”
Buffalo Solar, a Depew-based solar installation contractor, was started out of its founders’ living room in 2015 in South Buffalo installing residential solar projects. The company has since planted deep roots in the local renewable energy landscape, installing hundreds of residential and commercial solar projects, battery storage projects, LED lighting retrofits, and EV charging stations in Western and Central New York. The commercial arm of the business, begun in 2018, exploded during the pandemic, and its pipeline has expanded to include small businesses, municipalities, houses of worship, manufacturing plants, distribution warehouses, farms, self storage facilities, hotels and community solar farms in New York, Pennsylvania, Connecticut, New Jersey, and Massachusetts.
Buffalo Solar, through this expansion, is redirecting its 45 years and 35 megawatts of combined solar development and installation experience to focus on the business community; offering a solar energy solution designed to pay for itself. The revenue generated from the solar energy project is often greater than the financing payments, which creates immediate savings and net revenue for the customer; generally providing 3- to 7-year cash paybacks, with ROI’s reaching up to 30%.
“However, because of changing incentive structures, it is critical to act now,” said Uebelhoer. The investment tax credit (ITC) is set to drop from 26% to 22% at the end of this year, and from 22% to 10% at the end of 2023.”
“This is an exciting time for us,” Uebelhoer added. “We love being a part of the solution to climate change and energy inflation in New York and beyond.”
Edit Note: For more information about commercial solar development or to schedule an interview, contact Jeremy McCool at 760-623-9128
About Buffalo Solar: Founded in 2015, Buffalo Solar’s mission is to provide best-in-class solar development and installation services to commercial customers. Buffalo Solar provides energy consulting, feasibility studies, financing, system design, engineering, interconnection, permitting, project management, construction management and installation services to business owners, investors, landowners, municipalities, and non-profits. Call Buffalo Solar at 716-800-7775 to schedule a free consultation about your commercial solar project.