Problem
Hesco provides a unique and local service to their customers. In an age of competition from online retailers, Hesco has kept their prices in line and also provides a knowledge and service you can’t get online. To stay competitive, Hesco needs to make careful financial decisions. As a lighting showroom, electric usage is one of their largest operating costs. Solar panels could allow them to operate as usual, at a fraction of the cost.
Solution
Green Power Energy installed a solar array that will produce enough energy to offset the electrical demand on site. In addition to the electric offset, the business took advantage of New Jersey’s SREC Program, MACRS Solar Deprecation, and the 30% Tax Credit. When you add the electric savings along with all of the other incentives, 50% of the investment was recuperated in year one, while ROI is expected to be met around 4 years.
Result
By installing a solar array the site became a truly green operation, meeting Ken’s goals by powering the business with clean energy. The system reached its return on investment in year four and has collected over $150,000 worth of SREC income since being installed in 2013. The ground mounted array allowed for a system to offset the majority of the usage and allow the geothermal heating and cooling system to operate without additional costs.
Overall Solar Experience
“We felt right from the beginning, a lot of confidence in your abilities as a company. I immediately liked your plan, you were very positive in what you could do. My expectations were far exceeded, we had no glitches or problems.”
– Dennis Kahn, President
