July 22, 2013
Stewart's Shops installing $1.5M solar panel system
By: Michael DeMasi
Source: The Business Review
Stewart’s Shops said today it will install a large rooftop solar
energy system at its manufacturing and distribution center near Saratoga
The 600-kilowatt photovoltaic system cost Stewart’s nearly $1.5 million upfront.
actual cost is less because of a rebate from the New York State Energy
Research and Development Authority and federal tax credits.
system is expected to save the company nearly $40,000 annually in
electricity bills. The convenience store chain expects to recoup its
investment in 5-1/2 years.
EnterSolar, which provides solar arrays to businesses, is installing the system.
The project is one of a 76 funded by a $46 million state program administered by NYSERDA.
Stewart’s has 330 shops in upstate New York and southern Vermont, with more than $1 billion in sales.