Uncovered Opportunity – Why New York Parking Lots are Potential Cash Cows

Uncovered Opportunity – Why New York Parking Lots are Potential Cash Cows

Renewable Energy Procurement |
By William Patterson

As any New Yorker knows, clean energy has been a priority for Governor Andrew Cuomo’s administration. However, not every New Yorker knows that thousands of parking lots in ConEdison territory have the potential to receive a substantial lease payment for converting their uncovered parking lots to covered, solar-producing cash cows! Not to mention offer cars with free shade and weather protection.

Forget Energy, Space is Your Asset

Traditionally, when a solar developer like Sol calls your number, we’re looking for customers with space and energy usage to both host a solar energy system and consume the energy it produces. In New York, however, the state’s community solar program allows parking lot owners to lease out their space for solar carports (also known as solar canopies) without requiring the energy load to use it.  Through community outreach and engagement your project will find energy buyers from a large array of opt-in subscribers. An added incentive program, specifically for solar carports in ConEd territory,  allows parking lot owners to generate lease revenue simply by giving that solar project a place to live.

[caption id="attachment_5723" align="alignright" width="300"] Solar canopies provide free shade while preserving the parking lot's utility.[/caption]

The Only Shady Thing About It

Unlike land or rooftop solar systems, carports effectively retain all utility of the space they are leasing, as cars simply park under the canopies. This also means that cars have  reliable cover for shade in the summer, rain in the spring and fall, and snow in the winter. It’s rare that real estate owners have a chance to get paid to add physical benefits to their properties, but New York provides an exception.

How Do I Get Started?

Owners of large parking lots or real estate in ConEdison territory, or those who are interested in assessing their company or organization’s opportunity to take advantage of the current state incentives, can reach out to Sol in the contact form directly below, or send us an email directly at energy@solsystems.com. We’ll get back to you shortly.


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