Kyocera plans to invest in a tax equity partnership with renewables company US Light Energy (USLE) (formerly NY Light Energy) for the development of solar photovoltaic projects valued at $38 million in New York state, leveraging the 30 percent federal energy investment tax credit.
USLE has exclusively used Kyocera solar modules since 2009 and will continue to do so. USLE is in the final stages of installing 9.4 MW of PV systems to be completed by June 2014.
Kyocera’s solar tax equity investment with USLE allows commercial power users such as buildings to use solar power with no up-front investment. USLE’s target is to provide a reduction of at least 20 percent in net electricity costs through its power purchase agreements (PPAs), as compared to conventional grid electricity.