MARLBOROUGH, MA – March 28, 2013 – Giombetti Electric, Inc., who provides electrical contracting services to commercial, industrial and residential markets throughout Eastern and Central Massachusetts, has partnered with Hopkinton-based Solect Energy Development to install a new 27 kW solar photovoltaic (PV) renewable energy system on the roof of its South Street facility. The project is expected to help Giombetti trim its $3,600 annual electric bill by more than 90%.
Giombetti Electric began investigating solar as an alternate energy solution when the company started to see the installation of PV systems in businesses and residences in Eastern and Central Massachusetts. “In this business, we really need to understand every facet of what our customers need, and it became apparent that solar was attractive to them,” said Mike Giombetti, vice president of Giombetti Electric. “We have now been through the solar process beginning to end with Solect, and can talk to our customers about whether it is an option for their buildings as well. We have a real example to point to and say, ‘It is working for us.’”
Giombetti Electric was able to take advantage of attractive state and federal tax incentives that help make renewable energy projects affordable for building owners. These include SRECs (Solar Renewable Energy Certificates), which are earned by solar system owners based on the amount of energy they generate via solar. SRECs are ultimately purchased by electrical utility providers in Massachusetts to help meet their state-mandated goals of a percentage of power coming from renewable energy sources. This is a good revenue stream for those property owners who choose solar solutions.
Giombetti Electric’s electrical usage was “normal” for a 4,000-square-foot facility, Giombetti said, powering the general office equipment, HVAC, and warehouse and office lighting, but still topped $3,600 a year. The savings generated via the solar PV solution, along with the revenue generated through SRECs, made deploying solar a win-win situation.
“Giombetti Electric was very proactive in looking at how renewable energy solutions like solar can impact their business and their bottom line,” said Scott Howe, business development partner at Solect. “They understand both the financial and the ‘green’ benefits of solar energy, and are demonstrating their commitment to the environment through this project.”
About Solect Energy Development, LLC
Solect is a full-service solar photovoltaic (PV) project developer based in Hopkinton, MA. Solect’s turnkey solutions include: feasibility assessments, financial and incentive modeling, funding options, regulatory expertise, design and engineering, installation, and on-going management and maintenance. The company currently has 10 MW (megawatts) of systems completed and under development, with a primary focus on New England-based commercial, light industrial, and institutional property owners. Visit www.solect.com for more information.