Mar 11 2010
With the installation of a new solar power system at World Class Flowers, the company is anticipating to cut down its energy costs by over $130,000 and also generate nearly $600,000 in SREC revenue during the next five years. Mercury Solar Systems has installed the solar power system.
John Fietkiewicz, Controller at World Class Flowers, commented that currently, investments in solar power yields better returns than any other sector and is expecting to take back the investment on the solar system in just about three years.
The solar power system comprises 795 solar panels and 4 solar inverters. The 178-kW solar system will generate more than 215,000 kW/hr of power per annum and deliver nearly 30% of the electricity needs of World Class Flowers. The system will also prevent 150 pounds of carbon dioxide emissions per annum which would have otherwise occurred for the same amount of power generated through fossil-fuel-based conventional systems.
President of Mercury Solar Systems, Jared Haines, said the solar project on its roof demonstrates how businesses in New Jersey can generate revenue in a similar fashion. Haines further said New Jersey’s generous rebate program, especially the SRECs, helps businesses to take their money back on solar investment much quicker and also creates long-term revenue plans.
Source: www.worldclassflowers.com