Louisville’s Real Goods Solar to build N.Y. array

LOUISVILLE – Real Goods Solar Inc. (Nasdaq: RGSE), doing business as RGS Energy, said it has reached a deal to build a 1-megawatt solar array in New York City.

The Louisville-based company will install the array on rooftops of apartments in a 60-acre residential cooperative in a Queens, N.Y., neighborhood. The array will offset 35 percent of electricity costs for 930 apartments, leading to $250,000 in annual electricity savings.

The array will lead to the reduction of more than 1.8 million pounds of carbon dioxide emissions annually, according to Real Goods Solar. The company will combine rebates, tax credits and net-metering to deliver cost-savings in the project.

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Real Goods Solar plans to begin construction on the array during the third quarter and will finish before the end of the year.

Real Goods Solar serves commercial, residential and utility customers and has installed more than 22,500 solar power systems totaling more than 235 megawatts of renewable energy.