American Renewable Energy Assists Storage Industry In Leveraging Incentives With Smart Energy
American Renewable Energy, Inc. has identified the Self-Storage industry as ideally suited for a combination of state incentives and investor capital. “We are able to align qualified parties resulting in installation of Solar Electric systems while rendering the storage business owners cost of electric inflation proof” said John Williams, C.O.O., American Renewable Energy, Inc.
The package works best in states with viable State Renewable Energy Certificates (SREC) programs. As an example, in New Jersey a customer spending $52,600 annually on electricity, assuming those cost are increasing 3.5% for the next 15 years, will pay $1,138,600 over that time. Instead they can lock, or hedge, their electrical cost at $52,600 annually for a savings of $349,600. Plus they would receive $18,000 per year in rental income, or 34.0% of their electric bill as a rebate over 15 years equaling $270,000. The storage facility enjoys total net positive cash flow of $619,600 with no additional or upfront cost.
According to Scott M. Webb, the programs specialist at American Renewable Energy, “We have assembled a group of investors to participate. Essentially, they rent your roof. American Renewable designs and installs the Solar Electric system. They send you a check (quarterly, semi-annually, or annually). You pay for your electric as you always did, except, your rate is frozen for 15 years.”
REIT’s are particularly enthusiastic because the income is distributable to shareholders and Solar is congruent with their own commitments to sustainability. Solar Electric as an industry is on a dynamic growth curve due to the increasing financial appeal and growing interest in reducing the country’s dependence on foreign oil with clean, quiet, safe and free energy from the Sun.
About American Renewable Energy, Incis a Piscataway, NJ based Solar Integrator providing it services for residential, commercial, government, utility and non-profit customer throughout New Jersey, New York and Pennsylvania