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 Springs, NY.

The 600-kilowatt photovoltaic system cost Stewart’s nearly $1.5 million upfront.

The actual cost is less because of a rebate from the New York State Energy Research and Development Authority and federal tax credits.

The 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.