Ontel Global Headquarters—Now Powered By The Sun
Ontel Products Corporation is a pioneer in the “As Seen On TV” industry and a leader in the direct response & retail market. EnterSolar developed a 228kW solar photovoltaic system that was mounted on the roof of Ontel’s Global Headquarters facility in Fairfield, New Jersey. “Ontel has a strong commitment to environmentally-sustainable business practices”, said Chuck Khubani, founder and CEO of Ontel, “and we are proud to announce the completion of this important renewable energy project”.
Solar Photovoltaic System Specifications
The solar photovoltaic system includes 950 individual 240 watt photovoltaic modules, two central commercial inverters, a ballasted roof mounting system, and a data acquisition system that incorporates string-level monitoring capabilities. The system will produce over 270,000 kilowatt-hours of electricity per year, representing essentially all of the HQ facility’s current annual usage. This equates to the reduction of more than 350,000 pounds of carbon emissions annually. Over the next 25 years, the system will produce 6.4 million kilowatt-hours, generating enough clean electricity to power over 35 homes for that same period. Medline’s solar photovoltaic system has a total capacity of 1.1 MW and is comprised of 3,142 350W modules atop Medline’s one million square foot distribution center in Tracy, CA. Estimated to offset approximately 40% of the facility’s annual electricity usage, Medline’s roof system is one of the largest commercial projects in the Pacific Gas and Electric (PG&E) utility system. It produces approximately 1,659,858 kWh of clean and renewable electricity annually.
Compelling Project-Level Investment Returns
EnterSolar provided an SREC financing solution for Ontel through the PSE&G Solar Loan Program, which provided an upfront monetization of 15 years of future SREC production, dramatically reducing the required upfront capital outlay. The utilization of the Section 48 Investment Tax Credit and the MACRS depreciation treatment further improved the project-level economics, resulting in an extremely quick payback period and an excellent long-term internal rate of return.