Installed by SolarFlair of Hopkinton, the panels could one day cover all 57,000 square feet of Kane’s facility, he said. While they cost him $149,817, he received a $67,568 rebate from the Massachusetts Technology Collaborative, a $44,945 federal tax credit, a $7,221 state tax credit and other incentives that brought the price down to $45,312. Kane said he’ll pay that off in six to seven years and then, theoretically, he should make money on the system, which is expected to generate about 18,900 kilowatt hours per year. In addition to saving about $3,800 on utility bills, he can possibly sell electricity back to his utility company.
Matt Arner, president of SolarFlair, is marketing the idea to other self-storage companies. His two-year-old firm works with clients to maximize return on investment.
Source: The MetroWest Daily News, Ashland businessman Michael Kane using solar panels