RICOH Goes Solar
As the North and South American arm of the Ricoh Company, Ricoh USA is a technology company that specializes in imaging electronics and printing equipment. Ricoh places a strong emphasis on sustainability, joining with other influential companies in committing to use 100% renewable energy by 2050 as part of the RE100 initiative. To help meet that commitment, Ricoh partnered with EnterSolar to install a ground mount solar photovoltaic system at their facility in West Caldwell, NJ.
Solar Photovoltaic System Specifications and Environmental Benefits
Ricoh’s solar photovoltaic system is made up of 1,870 325W photovoltaic panels and has a total capacity of 610 kW DC. The ground mount system is adjacent to the facility’s parking lot and covers the area of approximately 1.3 football fields. It offsets over 50% of their annual onsite electrical consumption. The environmental benefits of the system are equivalent to taking 112 cars off the roads or saving nearly 60,000 gallons of gasoline a year. Ricoh’s use of solar power will result in the avoidance of 532 metric tons of carbon dioxide.
Significant Financial Returns through solar
Ricoh entered a premium long-term fixed-price SREC contract to drive compelling project returns while mitigating SREC price volatility. The SREC contract guarantees that Ricoh will receive revenue for every MWh of solar energy generated. Entersolar’s expertise in optimizing system design and solar project financing made going solar a sound capital investment for Ricoh.