Under the agreement, Clear Skies will install a 159kW solar photovoltaic system designed to offset the majority of the buildings’ current energy usage charges. The contract price for the project is expected to be around $1.28 million.
After federal tax credits and a performance-based incentives from the California solar initiative, Hawthorne Machinery is expected to incur an effective purchase price of only 20% of the cost of the system.
Ezra Green, chairman and CEO of the Clear Skies Group, said: Hawthorne Machinery will begin saving money the day the system is turned on. In addition, over the working life of the system, the costs will not increase beyond the initial purchase price.
