PVTIME – Verde Solutions, LLC, a full-service renewable energy developer headquartered in Chicago, is partnering with the K.R. KOMAREK Inc. to install a solar energy system on its new manufacturing facility in Wood Dale, IL. This photovoltaic system is estimated to save $1.6 million in energy costs over its lifespan, have a 2.9-year payback period, and a 21.8% internal rate of return (IRR).
KOMAREK is an industry leader in designing and manufacturing briquetting, compaction, and granulation machines. Its newly renovated Wood Dale facility is 44,000 square feet and included manufacturing and lab spaces. The rooftop solar installation is scheduled to be completed by early Spring 2022.
Verde Solutions designed the solar system to take advantage of numerous solar incentives, dramatically reducing the net investment and boosting the IRR. For example, the project qualifies for $92,448 from the Illinois Smart Inverter Rebate Program and $286,802 from the Illinois Adjustable Block Program (ABP). In addition, KOMAREK is eligible for a $186,502 solar investment tax credit (ITC), and $131,053 in federal bonus depreciation.
“The financial returns from this project are impressive and make investing in solar energy a clear choice for KOMAREK,” says Christopher Gersch, founder and CEO of Verde Solutions. “Although the system will pay for itself in savings in less than three years, it is designed to last thirty. This sort of payback is an obvious choice for businesses like KOMAREK.”
With Verde Solution’s advanced design, the solar project will generate an estimated 86% of the total power consumed at the facility with the 370 kW solar system. The array will consist of 850 bifacial PV modules.
As the name describes, bifacial solar panels have two faces and produce energy from both sides, front and back. Therefore, the solar PV system will also generate power from light reflecting off the roof, making good use of limited roof space.
“The Koeppern Group has invested in the American market for the last three years, acquiring KOMAREK,” said Jan Pflugfelder, CEO & President, KOMAREK. “Since then, we have made significant investments in our employees, process, state-of-the-art manufacturing equipment, and software. By the end of 2021, we inaugurated our new modern office expansion, and are thrilled to announce our next investment as we will go green by installing 850 solar panels. Going green means reducing our CO2 footprint by reducing almost 10,000 metric tons of CO2. To put a perspective of this, this equivalates to over 160,000 trees grown in ten years! At KOMAREK we don’t talk about helping the planet; we do something about it!”