February 09, 2011
NYSERDA Awards $180,000 to Malta Company to Promote and Advance Solar Thermal Heating Systems
Radiant Store, Located at NYSERDA’s Saratoga Technology + Energy Park® (STEP®), to Expand Technology to Reduce Home Heating Costs
MALTA, NY The New York State Energy Research and Development Authority (NYSERDA) has awarded $180,000 to The Radiant Store, an installer of solar-thermal panels that is expanding the technology to reduce home heating costs.
Radiant, which now has seven employees, will use the funding to monitor the performance of its proprietary solar-thermal technology, train new installers and promote this more efficient use of solar technology. In this matching program, NYSERDA’s funding will leverage an additional $180,000 in private investment costs.
Solar-thermal panels are typically used to produce hot water for residential plumbing systems. The Radiant Store promotes a further use of the technology that has long been popular in Europe but slower to take hold in the United States -- expanding the solar devices for use in radiant, below-floor heating. The practice reduces heating bills as well as a home’s reliance on fossil fuels.
The Radiant Store, which started operations in 2005, has installed more than 250 combined solar-powered hot water and heating systems in the region. The company moved to NYSERDA’s Saratoga Technology + Energy Park last year, and has seen sales increase 75 percent since then.
“Solar power is an important tool for homeowners to incorporate sustainable energy into their lives – and reduce their energy bills,” said Francis J. Murray Jr., President and CEO of NYSERDA. “We’re proud to have a role in helping the Radiant Store make solar-thermal systems even more efficient and attractive to New York State residents.”
Terry Moag, president of the Radiant Store, said the funding would allow his company to offer his services to even more customers.
“This funding represents an opportunity to deploy solar-thermal combination heating systems on a broader scale in upstate New York and New England,” Moag said.
Moag’s experience with this integrated technology has found that, for an additional 20 percent increase in installation price, the system can reduce a yearly home heating bill from 20 to 40 percent in addition to supplying the hot water. In the summer, the system can also be used to help heat a backyard pool.
A variety of state and federal programs have made these projects quite affordable. There’s a 30 percent federal tax credit, a 25 percent state credit and an additional NYSERDA cash incentive as well. These incentives can reduce the cost of a $10,000 system to under $2,000.
NYSERDA, a public benefit corporation, offers objective information and analysis, innovative programs, technical expertise and funding to help New Yorkers increase energy efficiency, save money, use renewable energy, and reduce their reliance on fossil fuels. NYSERDA professionals work to protect our environment and create clean-energy jobs. NYSERDA has been developing partnerships to advance innovative energy solutions in New York since 1975.
The Saratoga Technology + Energy Park (STEP) is a knowledge community owned and operated by NYSERDA, with the purpose of attracting clean energy and environmentally-focused companies looking for strategic locations to build and grow. Based in Malta, in the heart of New York’s Tech Valley, the park currently has 13 tenants, including The Radiant Store and Hudson Valley Community College’s TEC-SMART facility. It is also next to the future home of the 1,200-plus employee chip-fabrication plant GLOBALFOUNDRIES.
Last Updated: 05/14/2013