Salisbury, MD – (June 20, 2013) When Dave Kenney, owner of The Hardware Store in Mardela Springs, MD, decided to adopt solar, he had many reasons but his main reason was to take control of his company’s rising energy costs.
After researching his options, Kenney contracted Paradise Energy Solutions, a solar installer with five branches serving nine states and a local branch in Salisbury to install his system. The system was completed and activated in July 2011. A majority of the cost of the system was offset by the 30% Federal Tax grant, the Maryland State grant and 50% Bonus Depreciation.
Kenney’s roof-mounted system consists of 168 solar panels and is guaranteed to produce nearly 50,000 kWh annually, enough power to cover his store’s energy needs and more. The excess power that the system produces is sold back to the utility. In addition to the credit he receives from the power company from the excess electricity produced, he also receives additional revenue through the sale of SRECs, or Solar Renewable Energy Credits.
“The system has been everything that we hoped for and more,” said Kenney, who can expect to have his system pay for itself in just four more years leaving The Hardware Store enjoying free electricity for many more years.
“We’ve basically locked in our electric rates for the next 30 years, and when the system produces more than we need, the extra goes into the grid, and we get credit for it.”
Kenney worked with Jason Beiler, Paradise Energy Solutions’ Branch Manager and Principal, during the whole sale and installation process for his system. Beiler believes that now is the time for Eastern Shore businesses to embrace solar as a source of additional revenue; almost like a second business or profit center.
“Solar allows a business to increase their bottom line by utilizing unused land or building space, like their roof, to generate substantial additional revenue,” said Beiler. “For any business, reducing energy costs helps brighten and secure its future.”