As part of the investment, Kyocera has also signed an agreement with U.S. Light Energy (USLE) to make use of Kyocera solar modules on all installations.
USLE is in the final stages of installing 9.4MW DC PV systems. The installation is expected to be completed by June 2014.
Kyocera Solar president Steve Hill said, "Kyocera’s tax equity investment with USLE enables commercial buildings and schools to benefit from environmentally friendly solar power with no up-front investment."
According to Kyocera, the solar tax equity investments will enable commercial power users to save costs and reinvest that money into their businesses.
USLE aims to provide a reduction of at least 20% in net electricity costs through its power purchase agreements, as against conventional grid electricity.
USLE CEO Alex Lieb said the company has partnered with Kyocera since 2009 as it offers reliable solar modules.
"By leveraging federal tax incentives offered for solar programs, we’re able to provide a more competitive price for commercial customers, encouraging more companies to utilize solar and put the savings back into growing their businesses," Lieb added.
The partnership between Kyocera and USLA is said to result in a significant investment in New York, with the employment of more than 50 people.
