Perry Community Solar

Company History

Genie Energy was founded in 2004 under IDT Energy and spun off from its parent company (NYSE:IDT) in 2011. Genie Solar is part of Genie Energy (NYSE: GNE), a global energy solutions company who supplies customers with electricity in the US and Europe.  Genie Solar Created Perry Community Solar, LLC for the installation and management of a 3MW solar project in the Village of Perry.

Project Description

Perry Community Solar, LLC proposes the installation of a 3MW; ground-mounted, community solar energy generation array in the Village of Perry, NY. The project will cover approximately 7.6 leased acres and will have a total cost of $7,638,218. The Village of Perry will be the Lead Agent concerning the SEQR requirements for this project. The Village of Perry has negotiated a Host Community Agreement with Genie Solar Energy, LLC with the terms of $5,000 per MW Host Fee and PILOT payment at an 80% Host/20% PILOT split, over 20 years. The IDA has signed a PILOT Agreement with the Company.

Request

The IDA Incentives for the Project include sales tax exemption not to exceed $309,736, mortgage tax abatement on an amount not more than $3,100,000 and real property tax exemption estimated to be $376,943 over a 20 year custom PILOT.