Swiss Re Goes Solar
The Swiss Reinsurance Company, commonly known as Swiss Re, was founded in 1863 and is the second-largest reinsurance company in the world. Swiss Re’s American headquarters is located in Armonk, NY. Their site overlooks the Kensico Reservoir in Westchester County.
As a founding member of the RE100 initiative, Swiss Re is one of many influential global companies committed to transitioning to 100% renewable electricity by 2020. The solar system in Armonk is one of the biggest efforts that Swiss Re is making globally to meet that commitment.
Solar Photovoltaic System Specifications
Swiss Re’s solar photovoltaic system has a total capacity of 2.7MW and is comprised of 7,720 350W modules installed on 9.2 acres of Swiss Re’s bucolic campus. Swiss Re’s ground-mounted system offsets their total onsite electrical consumption by almost 62%; enough energy to remove 533 automobiles from the road and save nearly 285,000 gallons of gasoline annually.
Swiss Re Takes Advantage of Solar System Incentives
Created to drive growth in the solar industry and make solar technology more affordable for all New Yorkers, the NY-Sun Incentive program allows commercial customers such as Swiss Re to take advantage of several federal and state-level solar incentives: a 30% investment tax credit, the MACRS 5-year accelerated depreciation incentive, which allows for a tax deduction to recover costs over the life of the property, and the NYSERDA MW block program.