White River Jct., Vt. –
groSolar, a national leader in solar power with headquarters in Vermont, announced today completion of the largest solar power system in the Upper Valley on the roof of RSD Companies. The building is the location of groSolar’s White River Junction, Vt headquarters.
RSD Companies financed the 100 kw system through a 3rd party "power purchase agreement," which gives the company stable long-term power costs and a greener building, without any up-front costs. The system should produce 120,000 kilowatt hours per year and will be net-metered to offset up to 20 percent of the power used by multiple tenants of the building, including groSolar. Net metering means that excess power will be sold back to the area utility: Green Mountain Power (GMP).
"We are excited to have a solar-powered headquarters and warehouse, which we've wanted for some time," said Jeff Wolfe, CEO of groSolar. "This shows again that solar power is a solid economic investment, and we're encouraged that more financing options for both commercial and residential solar power are materializing."
RSD Companies had considered solar power several years ago but costs were too high.
"Of course I know Jeff has had this on his list for some time" said owner Richard S. Daniels. "So when groSolar showed me the numbers again, the numbers had changed a lot. It just became a question of buying the system outright and saving a larger amount over time, or financing it and saving a more modest amount."
RSD Companies chose to finance their system thereby eliminating upfront costs. "At the end of the day, having no upfront cost made the decision pretty easy," said RSD Vice President/General Manager, Donald Hemenway.
Green Mountain Power’s $.06 per kilowatt hour (kwh) “Solar GMP” production incentive was a significant factor in making the financing work. The incentive pays an additional $0.06 for power produced by a solar array in addition to the $0.12 - $0.13 already paid to customers for net-metered power.
groSolar welcomes media tours of the facility by appointment.
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About groSolar
groSolar is North America’s premier distributor, installer and integrator of solar energy solutions for residential and commercial installations. Founded in 1998, groSolar is the largest 100 percent U.S.-owned installation and distribution company in the solar industry. The company has offices and warehouses across the US, distributing solar electric and solar hot water systems from offices in VT, NJ, NY, CT, MA, MD, DE, PA, and CA. groSolar integrates components from leading solar manufacturers including Canadian Solar, Motech, Heliodyne, SMA, Fronius, and UniRac into simple solar energy solutions for customers that generate clean, reliable energy for decades. groSolar is a mission-driven company dedicated to providing high quality solar energy solutions and whole energy appreciation. groSolar’s venture capital investors include NGP Energy Technology Partners, SJF Ventures, and Calvert Social Investment Fund. Learn more at groSolar.com or call 800.374.4494.
About RSD Companies
RSD operates trucking and warehouse divisions from a 220,000 Square foot facility in White River Junction, Vermont. Our two Trucking divisions and our Transportation brokerage division can provide transportation services throughout out New England and the Eastern Seaboard West to the Mississippi River. We operate over 50 tractors and 125 trailers. RSD Transportation Inc specializes in flatbed, and van service. All transactions are computer and satellite tracked by a combination of ROADVISION our Transportation software and Omni TRACS; a two-way communications and vehicle tracking system. Daniels Transportation specializes in contract truckload and just in time services. We are contracted to the U.S. Postal Services and KLEEN Laundry. Daniels also operates a brokerage division to compliment the two trucking companies. Visit www.RSDcompanies.com or call 800-541-7343 for more information.
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