SOLAR ENERGY DESIGN AND INSTALLATION
Helping Long Islanders save with solar energy

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They’ve Flipped the Switch at the Long Island Solar Farm!

Officials from LIPA, BP Solar, Brookhaven National Lab, and a host of government officials and environmental leaders officially marked the completion and commission of the Long Island Solar Farm (LISF). The 32 megawatt LISF installation is the largest solar array in the eastern region boasting over 160,000 solar panels, producing enough energy to power up to 4,500 homes while reducing use of fossil fuels. This is the largest solar project in New York State seen as key to Long Island’s energy, economic and environmental future.

81 Scudder Ave, Northport NY 11768
Phone: (631) 757-6984 | Email: solar@energybychoice.com

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SunEdison Files For Chapter 11 Bankruptcy

April 29, 2016April 29, 2016

After weeks of speculation in the media, renewable energy company SunEdison Inc.

has filed for bankruptcy.

In an announcement, SunEdison says it has commenced a process to restructure its balance sheet and position the company for the future. To facilitate this restructuring, SunEdison and certain of its domestic and international subsidiaries have filed voluntary petitions for reorganization under Chapter 11 of the U.S. Bankruptcy Code in the Bankruptcy Court for the Southern District of New York. Notably, SunEdison’s publicly traded yieldcos, TerraForm Power and TerraForm Global, are not part of the filing. “Our decision to initiate a court-supervised restructuring was a difficult but important step to address our immediate liquidity issues,” says Ahmad Chatila, SunEdison CEO. “The court process will allow us to right-size our balance sheet and reduce our debt, providing the opportunity to support the business going forward while focusing on our core strengths. “It also will facilitate our continued work toward transforming the company into a more streamlined and efficient operator, shedding non-core assets as well as taking other steps to help us get the most value out of our technological and intellectual property,” continues Chatila.  “As a result of this process, we expect that SunEdison will be in an even better position over the long term to utilize our capabilities in the renewable energy sector in service of our customers, business partners and employees.” SunEdison says it has secured commitments for new capital totaling up to $300 million in debtor-in-possession financing from a consortium of first and second lien lenders. Subject to court approval, these financial resources will be made available to the company to support its continuing business operations, minimize disruption to its worldwide projects and partnerships, and make necessary operational changes. According to the company, the new financing will support day-to-day operations during the reorganization, including the following: – Proceeding with work on ongoing projects, both in the U.S. and elsewhere; – Paying wages and benefits for employees; – Continuing to provide services to customers; – Paying vendors and suppliers in the ordinary course for goods and services provided on or after the date of the Chapter 11 filing; and – Complying with all regulatory obligations. SunEdison has hired Rothschild Inc. and McKinsey Recovery & Transformation Services U.S. LLC as advisors in connection with the company’s restructuring. Skadden, Arps, Slate, Meagher & Flom LLP is acting as its legal advisor. Industry reaction The bankruptcy filing comes after SunEdison racked up large amounts of debt following an acquisition spree, its stock prices plummeted over the past year or so, and the company was hit with several lawsuits, including one from its TerraForm Global yeildco. A recently released internal investigation also pointed to an “overly optimistic culture” at SunEdison. Jenny Chase, Bloomberg New Energy Finance’s head of solar insight, says SunEdison’s two-year, $3.1 billion acquisition binge “drove its debt to unmanageable levels and sent investors running for the exits.” “SunEdison’s bankruptcy says more about the company’s strategic decisions than about the solar industry as a whole,” notes Chase, adding, “Comparable companies SunPower and First Solar have managed a develop-and-sell business profitably over the past three years.” Dan Whitten, vice president of communications for the Solar Energy Industries Association, has echoed that sentiment. “This is a highly competitive industry with a massive upside,” he says in a statement. “As with other rapidly growing and successful industries, not every company in the solar market is going to stand the test of time. SunEdison is just one company, and today’s development does not reflect a trend of the broader industry.” Chase adds, “What has distinguished SunEdison has been the relentless and unfocused pursuit of growth, in which it has invested vast amounts of borrowed money. Not all of its ventures succeeded, which is inevitable in the project development business, but SunEdison’s win-to-loss ratio was evidently insufficient.”
on April 21, 2016
http://solarindustrymag.com/sunedison-files-for-chapter-11-bankruptcy?utm_medium=email&utm_source=LNH+04-22-2016&utm_campaign=SI+Latest+News+Headlines

Mike’s Long-Term Savings are Incredible!

December 17, 2015December 17, 2015
solar story icon for news pageOur customer Mike came to us through a referral.  He's one of a few neighbors that were looking into solar together. Massapequa Park 9810 Mazol 12 15Mike's system was installed a week ago, and it should be covering all of his PSEG bill.  His system will be producing 10,968 kilo watt hours of electricity for him yearly.  His effective cost of energy will be about 7 cents, a fraction of the 22 cents he's been paying PSEG.  And his 25-year savings number is just under $119,000 dollars.  Money not sent to the utility = money in Mike's pocket.  Awesome!

Just finished!

November 12, 2015November 12, 2015
3 guys on roofOur team just finished working on Michael and Susan's solar PV system in Levittown. solar story icon for news page The 15,369 watts that went up should produce over 16,500 kilo watt hours of electricity for them. That means they'll be saving over $3,400 yearly, that's almost $300 in their pocket every month.     Sweet.                

Carl’s system will save him $3,460 this year!

October 28, 2015October 28, 2015

Carl's system will save him $3,460 this year!

Babylon 12753 Tedeschi 8 15Babylon, NY ~ Energy By Choice installed this beautiful 12.753 kilo watt system for our customer Carl.  Carl's system will save him $3,460 this year!solar story icon for news page

Carl has chosen to finance his system, so his immediate savings are $70 a month from what he was previously paying PSEG.

Once his system is paid off, he will be saving about $300 a month.

His savings started immediately and will continue to grow over the long life of the system.

In addition to having more money in his pocket, by putting this solar system up the ecological savings are the equivalent of Carl planting 4 acres of trees.  Saving the planet....saving money....one solar story at a time.  [view more installs]

Long Island’s Solar Energy Industry Booming ~ Newsday ~ 10/16/15

October 19, 2015October 19, 2015
imagejpeg_0Long Island’s Solar Energy Industry Booming ~Newsday, 10/16/15 Sail Van Nostrand, owner of Energy By Choice, said system prices are down 15 percent to 20 percent over the past three years, to between $30,000 and $35,000 for a 10-kilowatt system. Most residential solar installations are for systems between 5 and 10 kilowatts, or 5,000 and 10,000 watts, respectively, with the intention of reducing a PSEG energy bill to just about zero. Tax credits and other incentives cut the cost nearly in half, and low-interest loans cover the balance, greatly reducing or eliminating customers’ upfront costs…. read Newsday's feature

Commercial Project Complete

October 13, 2015October 13, 2015
Our team spent the latter part of August on the roof of Delta Computers in Farmingdale installing over 500 SunPower 327 watt panels.  The install went meticulously and the final outcome is quite spectacular. delta best crop

Energy By Choice at Fall Festival in Huntington, Oct 10-11 2015

October 13, 2015
This weekend, Energy by Choice will have a booth at Long Island Fall Festival in Huntington. We'd love to see you - October 10-11 11am-6pm. Come learn about solar for your home.  Speak with the owners. fallfestival