Verde Solutions to install 370-kW bifacial solar project for Illinois manufacturer

Verde Solutions is partnering with the K.R. KOMAREK Inc. to install a solar energy system on its new manufacturing facility in Wood Dale, Illinois. This 370-kW system is estimated to save $1.6 million in energy costs over its lifespan, have a 2.9-year payback period, and a 21.8% internal rate of return (IRR).

KOMAREK designs and manufactures briquetting, compaction and granulation machines. Its newly renovated Wood Dale facility is 44,000 sq. ft and included manufacturing and lab spaces. The rooftop solar installation is scheduled to be completed by early Spring 2022.

Verde Solutions designed the solar system to take advantage of numerous solar incentives, dramatically reducing the net investment and boosting the IRR. For example, the project qualifies for $92,448 from the Illinois Smart Inverter Rebate Program and $286,802 from the Illinois Adjustable Block Program (ABP). In addition, KOMAREK is eligible for a $186,502 solar investment tax credit (ITC), and $131,053 in federal bonus depreciation.

“The financial returns from this project are impressive and make investing in solar energy a clear choice for KOMAREK,” says Christopher Gersch, founder and CEO of Verde Solutions. “Although the system will pay for itself in savings in less than three years, it is designed to last 30. This sort of payback is an obvious choice for businesses like KOMAREK.”

With Verde Solution’s advanced design, the solar project will generate an estimated 86% of the total power consumed at the facility with the 370-kW solar system. The array will consist of 850 bifacial PV modules.

News item from Verde Solutions

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Original Source: https://www.solarpowerworldonline.com/2022/01/verde-solutions-370-kw-bifacial-solar-illinois-manufacturer/