World Class Flowers in New Jersey plans to install a 178-kW solar energy system that will supply nearly 30 percent of the florist’s electrical needs, cutting its electricity costs by more than $130,000 and generating close to $600,000 in solar renewable energy certificate (SREC) revenue over the next five years. The floral wholesaler expects a return on investment in about three years.
New Jersey, along with Pennsylvania and Florida, are making gains when it comes to incentives and adoption of solar power, with most businesses expecting to see a return on their investments in three years, according to a study released in September last year.
The solar energy system, which will be installed by Mercury Solar Systems, consists of 795 solar panels and four inverters. The system will generate more than 215,000 kW/hr of electricity annually and will offset more than 150 pounds of carbon dioxide (CO2) annually.
In 2008, Mercury Solar Systems installed C.W. Brown’s 13.6-kW solar system — the first business in New York state to take advantage of the state’s new bill that allowed companies to sell their renewable energy back to their utilities.