Energizing Profits: Metro Storage's Solar Initiative Saving $8,600 in the First Year
At GAIN Renewables, we're always thrilled to share the success stories of our clients who've made the leap into renewable energy. Today, we highlight the story of Metro Storage LLC, a leading international self-storage company. They operate over 85 stores covering 12 states in the US, and are expanding their reach into Central America. Metro Storage embarked on their journey towards sustainability by installing a Solar PV System at their Lake Bluff facility in Illinois.
Metro Storage was faced with a significant challenge: high energy consumption at their Lake Bluff facility. They wanted to align their operations with sustainable practices and reduce their carbon footprint, and transition to a sustainable energy source. They found the solution in the implementation of a Solar PV System. The system, comprised of 208 Mission Solar MSE415SX6Z solar panels and a SolarEdge SE66.6KUS inverter, was designed to generate clean energy, reduce their energy costs, and decrease the company's environmental footprint.
To offset the high initial costs of the Solar PV system installation, Metro Storage secured a range of incentives including a federal tax credit, 100% bonus depreciation, an Illinois Smart Inverter Rebate, and an Illinois ABP Incentive. These incentives reduced the Solar PV system's net cost to just $5,409, making the project not only environmentally friendly, but also economically viable.
The results have been impressive. In its first year, the Solar PV system delivered savings of $8,600. The payback period for the installation cost is projected to be a mere four years, with a lifetime savings of $354,527 and an impressive Internal Rate of Return (IRR) of 16.0%. Beyond the financial benefits, the environmental impact has been significant. Over the next 20 years, the
Solar PV system will offset 1,785.4 tons of CO2. That's the emissions equivalent of driving over 4 million miles or planting 26,775 trees. This is not just about the cost savings or even the environmental benefits, substantial though they are. It's about a vision of a sustainable future where businesses operate in harmony with the environment.
Metro Storage's success story is a clear testament to what can be achieved when companies commit to renewable energy solutions. It's an exciting time to be part of the renewable energy sector, and we are proud to assist companies like Metro Storage in achieving their sustainability goals. If your company is looking to take similar steps towards sustainability, GAIN Renewables is here to help. Contact us today to learn how your business can benefit from commercial solar: tad@gainrenewables.com.
