Warren Real Estate is proud to announce our investment in the Ridge Road Solar, LLC Community Solar Farm, located in Horseheads, N.Y.
The energy generated from the solar farm will offset 100% of the electric usage at both of our Ithaca offices, both of our Greater Binghamton offices, and our Elmira/Horseheads office.
A community solar farm is a centrally located collection of solar panels that provide solar electricity to many households or buildings. Solar farms allow for solar energy to be provided to homes and businesses without requiring rooftop panels.
The community solar farm that serves Warren Real Estate is operated by Renovus Solar, the largest solar company based in Central New York. Energy is generated by the panels on the solar farm which is then fed to the grid, and credits are applied to the user’s utility bill.
The energy provided by the solar farm will constitute 100% of our electric usage at the five offices listed above. Warren’s allocation of the solar farm is expected to generate 211,319 kilowatt-hours (kWh) in the first year of operation, saving us an estimated $14,124 off of our electric bill.
With the projected savings, we expect to break even on this investment in year 8, and experience positive cash flow starting in year 9.
With climate change and utility costs on our minds lately, Warren Real Estate is taking an important step toward both sustainability and savings. Not only is Warren leading the way forward by using solar energy on our existing offices in multiple markets, we are emerging as a leader in the Ithaca market, encouraging other companies to follow our lead.
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