The success of the solar array installation at their storage facility has been significant for Wiley Properties. The savings generated from the solar panels have allowed the company to reinvest in their business and achieve their long-term financial goals. The move towards renewable energy has been a game-changer for Wiley Storage and has set an example for other businesses to follow suit in promoting sustainability while saving costs.
With the help of the USDA’s REAP Grant (Rural Energy of America Program), a federal grant that awards major funding for companies across the US is rural areas, as well as the ITC credit, accelerated depreciation, and SRECs, Wiley was able get 80% of the installations costs offset. This resulted in a great ROI payback period of 4 years. $11,000 per year direct improvement to yearly cash flow.
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