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Case Study

Company: Hesco

Hesco was founded in 1968 with a location in Lebanon, NJ. The company’s initial focus was in electric supply, but as the business grew, local contractors were requesting lighting fixtures in order to bring their jobs to completion. The original lighting showroom was opened in Princeton in 1981 and is still open for business today. Their location in Annandale was opened soon after and is now powered by Green Power Energy’s solar array.

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

Solar has allowed Hesco to keep every light fixture on in their lighting showroom without a concern for electric rising utility costs. Having purchased the panels, all the energy produced on their roof is essentially free to use. In addition to this onsite, free source of power, Hesco is able to pay other bills by selling their Solar Energy Credits for cash.

Overall Solar Experience

“We believe it was a very good investment overall. It reduces our everyday overhead and creates an additional source of revenue from the SRECS. We interviewed three companies and ended up choosing Green Power Energy. I liked Green Power Energy because they are local to Annandale, and their Vice President of Sales, Stephen Daly, was able to explain to us the technological aspects of solar in layman’s terms.”

– Gary Quick, President, Hesco

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