EcoSolargy has installed a solar system on the roof of the Diamond Bar headquarters of VHA Prepaid Wireless, an authorized master agent. The 504 ecoSolargy Orion solar panels will produce over 184 MWh of electricity and will save VHA over $1 million in electricity costs over the next 25 years.
With generous government incentives available, many companies are finding that solar systems can be installed inexpensively and will dramatically reduce their monthly electricity bills, said Alan H. Lee, CEO of ecoSolargy. Additionally, solar energy is clean energy, which is great for PR and the environment.
Incentives include the solar Investment Tax Credit (ITC), which gives a 30% tax credit to companies which purchase solar systems. The ITC will expire on December 31, 2016, and for solar systems to qualify, they must be completed by December 31, 2016.
Other tax incentives that can be combined with the 30% ITC include the Modified Accelerated Cost Recovery System (MACRS), which allows a company to depreciate the system over 5 years, as opposed to the traditional 20 years. The ITC and MACRS together can pay for over 60% of the cost of installing a solar system. That is over 60% of the system cost recovered without even factoring savings on the utility bill.
Martin Brix, Director of Commercial PV at ecoSolargy, noted that the VHA solar system was designed to address the specific energy needs of the client. The project began with an extensive energy study which outlined how and when the energy was being consumed.
He explained, Its not always about offsetting 100% of the electricity usage of a client, but about finding the proper balance between use and expense. Our goal is to create a solution that optimizes energy production benefits and minimizes cost.
The company is also working on a variety of other commercial projects in the area, Brix added, including projects in Irvine, Yorba Linda and Riverside.