Herlihy Insurance Chooses Solect for Renewable Solar Energy

WORCESTER, MA – April 10, 2013 –Herlihy Insurance Group, which offers insurance services to families and businesses in Central Massachusetts, has partnered with Hopkinton-based Solect Energy Development to install a 49 kW solar photovoltaic (PV) renewable energy system on the roof of its Worcester headquarters. The project is expected to help Herlihy Insurance cover up to 90% of its annual electricity costs.

The 85-year-old, family-owned business has a history of “giving back” through Team Herlihy, the company’s community service efforts for its 25-person staff that range from fundraising for the Worcester Boys & Girls Club to supporting local sporting organizations. “Choosing to go solar was another way that we can give back, this time to the environment,” said Jim Herlihy, president of Herlihy Insurance. “The financial incentives as well as the green aspects of solar were very compelling, and Solect has been a terrific partner throughout the process.”

More than 200 solar PV panels were installed atop Herlihy’s 8,000-square-foot Worcester offices to help defray the everyday electricity expenses of running its office environment, including lighting, HVAC and computers.

Herlihy Insurance was able to take advantage of federal and state tax incentives that help defray the cost of renewable energy projects for business owners. These incentives 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 purchased by electrical utility providers in Massachusetts to help meet goals mandated by the state that require a percentage of power coming from renewable energy sources.

“Herlihy Insurance is an excellent example of a business that can take advantage of all of the benefits of a solar renewable energy solution,” said Scott Howe, business development partner at Solect. “The federal and state incentives combined with the electricity savings make solar a very compelling proposition for businesses in Massachusetts.”