NEW YORK (AP) — Con Edison, a unit of Consolidated Edison Inc., on Tuesday filed a proposal with the state of New York calling for more funds for solar energy projects in New York City.
In Con Edison's filing with the New York State Public Service Commission, it called for the development of 25 megawatts of solar energy resources in New York City by 2015. The company said this will offset about 16,000 tons of carbon dioxide emissions annually, the equivalent of taking 2,400 passenger vehicles off the road.
Con Edison suggested the state set aside $24.8 million of its renewable energy funds for smaller solar projects for residential and commercial customers in New York City.
The company is also proposing that the state set aside $4 million for a residential program for New York City and Westchester County customers to use solar energy for hot water.
"We believe that New York City, with its urban roofscape, has great potential as a center for solar power and we are confident that we can use our unique knowledge of our customers to make that a reality," said John Mucci, vice president of Engineering and Planning.
These programs would be in addition to an earlier proposal to spend $125 million over five years throughout the Con Edison service area for larger installations.
Shares of Consolidated Edison rose 63 cents, or 1.5 percent, to $43.44.
