Solutions for Every Business
In 2013, Spacetone Acoustics, a commercial business in Pleasanton, CA, made the choice to install a solar system with GoSimpleSolar. The business owner initially decided to investigate solar as a means of offsetting the utility costs of daily operations and was interested in long term returns. Spacetone Acoustics benefitted immensely from their decision to go solar. By installing the most durable, proven panels on the market from SolarWorld USA, they insure production long into the future, generating huge savings over their 25 year warranted life and beyond.
Client:
Spacetone Acoustics
Lifetime Savings:
$444,000+
Community Benefits:
Equivalent of 19,153 trees planted
A Solid Investment at the Right Time
November 2014 marked the first month that PG&E imposed strict time-of-use rates on commercial consumers. For any business that has not gone solar, this would certainly be problematic. However, Spacetone Acoustics will be nearly unaffected because of their solar production (See How it Works for more information on Time of Use for Business). By producing and using their own electricity, the business effectively made itself invulnerable to constant annual PG&E rate hikes.
“We must design a system that will maximize the financial benefits that solar has to offer. A custom approach is almost always a necessity when designing a project of this size.”
–Mark Becker, President
Business Energy Investment Tax Credit
Spacetone Acoustics qualified for the Business Energy Investment Tax Credit. This incentive offers a 30% tax credit, which saved the owners of this solar system over $39,100. By avoiding any kind of loan or partial ownership of their system, Spacetone Acoustics will be able to claim every penny saved as their own and break even in early 2018.
The Solution
- Out of Pocket Cost: $83,784
- Net Present Value of $199,087 with an Internal Rate of Return of 17.6%
- Utility Savings over 30 Years: $444,853
- Cash Flow Payback: 5.3 Years
- Payment Method: Cash
The financial returns to the business owners make it clear why over 6,000 commercial projects have been installed in California Alone. To date, Spacetone Acoustics’ solar system has generated nearly 120% of the initial expected output, effectively contributing to a lower payback period than initially expected.