Overview
- Fieldston announced completion of a 72-building community distributed solar network that covers about 600,000 square feet and produces roughly 3.3–3.5 megawatts of power while providing community solar credits to more than 550 low-income households.
- Under its model the company signs long-term rooftop leases instead of paying rent, pays for roof replacement with a 20-year warranty, installs solar that feeds the grid, and enrolls tenants and buildings as community solar subscribers.
- Fieldston unveiled a $200 million development pipeline to expand to about 1,000 additional rooftops over the next four years and says it has stockpiled roughly 72,000 panels and about 75,000 inverters and optimizers to accelerate that buildout.
- The company says the projects help landlords meet New York City’s Local Law 97 emissions rules and qualify for municipal tax abatements of up to $250,000 in the first four years while using federal and state clean-energy incentives to finance the work.
- Tenants receive discounts reported at about 20% on monthly Con Edison bills and landlords avoid upfront repair costs, and Fieldston plans to add battery storage and says its distributed approach could ease local grid strain though those grid benefits are company projections.