Key Equipment Finance provided a solar tax lease that uses the 30% federal Investment Tax Credit (ITC) and depreciation to reduce lease payments for Builders’ General.
“Green-energy financing provides multiple benefits to companies like Builders’ General,” said Doug Beebe, vice president of Energy Finance for Key Equipment Finance. “It positively impacts the environment of local communities, alleviates concerns about energy rate increases, and demonstrates sustainable practices for customers.”
Trinity Solar designed, engineered, built and installed the rooftop solar arrays totaling over 405 kilowatts across Builders’ General’s four locations in New Jersey.
“Trinity Solar is proud to serve companies like Builders’ General, which is progressive and in tune with its sustainability minded customer base,” said Jim DeCicco, vice president of commercial sales and finance for Trinity Solar.
Builders’ General is consuming the solar power and receives income from New Jersey’s Solar Renewable Energy Certificates. The company is projected to generate over 450,000 kilowatt hours annually, which equates to about 842,000 pounds of carbon dioxide removed from the atmosphere or 304,000 gallons of water saved. Builders’ General estimates the installation will generate $990,000 in energy savings over its 10-year life span.
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