U-Gas Working With Syndicated Solar
Published in CSP Daily News
Retailer adding solar power systems for two locations, with more sites in works
FENTON, Mo. -- Gasoline and convenience retailer U-Gas, recently signed a contract with Syndicated Solar, a Denver-based provider of commercial and residential solar power systems, to add solar panel systems to two of the chain's 20 locations. Plans are in the works for additional solar power systems to be installed in several more U-Gas gas station facilities soon.
Syndicated Solar completed the first project in February at a U-Gas in Wentzville, Mo., with a second installation to take place at another U-Gas in Wentzville in mid-August. Up next is a combination of several systems at the U-Gas Inc. office complex in Fenton, Mo.
In addition to promoting positive environmental practices, U-Gas expects to save thousands of dollars over time through gained energy efficiency and numerous rebates from local energy company, Ameren and federal solar power grants or tax credits, the company said.
These incentives are calculated to offset U-Gas's initial solar power system investment by 80%.
The U-Gas Wentzville location alone has a total system investment of $103,709, and is also a 24.99 kW system size. With the Ameren rebate of $49,980 (49.19%), and federal solar tax credits totaling $31,113 (30%), the total net system investment, after the rebates and grants, is only $22,616.
The second U-Gas solar installation will have a total system investment of $101,459, for its 24.99 kW system size; however, it qualifies for the Ameren rebate of $49,980 (49.26%), and for federal solar energy grants or tax credits totaling $30,438 (30%). This leaves the total net system investment, after the rebates and grants, at $21,041, with more savings expected.
The earned income and cost avoidance projections anticipate that this single U-Gas location's returns will be $247,488.53 over the next 25 years.
A 24.99kW system is enough to power seven average homes, said Syndicated Solar. According to U.S. Environmental Protection Agency (EPA) estimates, over the next 25 years, the two systems combined will save 2,602,225 lbs of CO2 emissions, which equates to planting 30,275 trees, not consuming 132,800 gallons of gasoline, not driving 2,709,500 miles, and avoiding 796,575 pounds of landfill waste.
For many companies like U-Gas, solar power presents a new opportunity for them to grow within their market, the company said.