RENSSELAER — Demand for the solar panels installed by Monolith Solar Associates has doubled since last year, and company officials were expecting the same this year, but with recent changes to state renewable energy incentives, that outlook is even brighter.
Since they installed their first solar panels — which converts sunlight into electricity — five years ago, Monolith has installed 157 systems on rooftops throughout the region. The blue panels can be seen on libraries and firehouses to offices and warehouses and even the Schodack Department of Public Works.
Most of those customers lease the systems from Monolith, through a power purchase agreement, in exchange for a reduced power bill. The company maintains the solar panels for the lifetime of the lease.
That business model relies heavily on government policies promoting renewable energy, and state incentives subsidizing the installation of photovoltaic systems.
Using the incentives, Monolith can install commercial systems up to 50 kW, which is roughly enough to power seven homes. That cap was recently quadrupled to 200 kW during the July meeting of the Public Service Commission, a change that opens the doors for the company to offer its pre-existing customer base upgraded systems.
“Our demand is doubling or tripling every year, and we may even quadruple with this new change,” said Monolith General Manager Mike Doud. “We are going to grow quite a bit faster than we were planning.”
The change makes an already sunny outlook even brighter. There are 37 employed at Monolith, but that number will grow rapidly over the next year. And despite an expansion of their location on Rensselaer Street, in the Amtrak station's shadow, the company is quickly reaching the limits of its parking and warehouse space.
“I'm sure the neighbors would like to see more space in front of their houses,” said Doud.
Company officials made the decision two weeks ago to begin seeking a new location, said Doud, and he expects a decision will be made within the new six months. Monolith will be staying in the Capital District, as the area is centrally located near the interstates 90 and 87 interchange.
While the incentive change has broadened the horizon for the commercial market, the company has yet to realize the residential market's potential.
Since they installed their first solar panels — which converts sunlight into electricity — five years ago, Monolith has installed 157 systems on rooftops throughout the region. The blue panels can be seen on libraries and firehouses to offices and warehouses and even the Schodack Department of Public Works.
Most of those customers lease the systems from Monolith, through a power purchase agreement, in exchange for a reduced power bill. The company maintains the solar panels for the lifetime of the lease.
That business model relies heavily on government policies promoting renewable energy, and state incentives subsidizing the installation of photovoltaic systems.
Using the incentives, Monolith can install commercial systems up to 50 kW, which is roughly enough to power seven homes. That cap was recently quadrupled to 200 kW during the July meeting of the Public Service Commission, a change that opens the doors for the company to offer its pre-existing customer base upgraded systems.
“Our demand is doubling or tripling every year, and we may even quadruple with this new change,” said Monolith General Manager Mike Doud. “We are going to grow quite a bit faster than we were planning.”
The change makes an already sunny outlook even brighter. There are 37 employed at Monolith, but that number will grow rapidly over the next year. And despite an expansion of their location on Rensselaer Street, in the Amtrak station's shadow, the company is quickly reaching the limits of its parking and warehouse space.
“I'm sure the neighbors would like to see more space in front of their houses,” said Doud.
Company officials made the decision two weeks ago to begin seeking a new location, said Doud, and he expects a decision will be made within the new six months. Monolith will be staying in the Capital District, as the area is centrally located near the interstates 90 and 87 interchange.
While the incentive change has broadened the horizon for the commercial market, the company has yet to realize the residential market's potential.
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