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Borrego Solar Systems Partners With Reading Electric to Bring More Than 5 Megawatts (MW) of Solar Energy to Southeastern Pennsylvania

Companies Secure More Than $7.5 Million Through the PA Sunshine Grant to Help 32 Local Businesses Harness the Power of the Sun

READING, Pa.--(BUSINESS WIRE)--Borrego Solar Systems, Inc., a leading designer and installer of grid-tied commercial and public-sector solar electric power systems, today announced a partnership with Reading Electric of Reading, PA to install more than 5 MW of solar energy—enough to power approximately 3,500 homes—at 32 different local businesses across Southeastern Pennsylvania, including Adelphi Kitchens & Cabinetry, Inc. (Robesonia, Pa.), Heyco Metals, Inc. (Reading, Pa.), Misco Products Corporation (Reading, Pa.), and Cougle’s Recycling, Inc. (Hamburg, Pa.). These projects will greatly expand the solar capacity in the region and across Pennsylvania. At the end of 2008, the entire state had fewer than 5 MW of solar installed.

“At Adelphi Kitchens, we take great pride in our commitment to being a green business, and installing a solar energy system will help us continue to meet our sustainability goals by providing clean, renewable energy,” said Stratton Yatron, CFO of Adelphi Kitchens, Inc., a leading manufacturer of custom cabinetry. “Our facility includes more than 160,000 square feet of production space, so we consume a great deal of electricity. Offsetting most of this with a 280 kW solar system will lower our overall carbon footprint and keep operational costs down for years to come.”

“Heyco has always been a technical innovator within our industry, so implementing a 400 kW solar energy system—which will cover a significant amount of our power needs—is the next step, underscoring Heyco's commitment to significant cost reduction while presenting the new, green face of U.S. manufacturing,” said Dave Mandle, vice president and general manager of Heyco Metals Inc., the leading copper-base alloy reroller in the U.S. “We are particularly excited that we will be working with Reading Electric on the installation since we have enjoyed a long association with the company over the years.”

To help offset the $30 million combined cost of these and the other 30 companies’ solar energy systems, Borrego Solar and Reading Electric have secured more than $7.5 million in grant awards through the PA Sunshine Grant, a $100 million state fund administered by the PA Department of Environmental Protection to help businesses and residents fund solar energy and thermal systems. The grants awarded to these 32 customers represent approximately 25 percent of the solar energy grants awarded to businesses to date through the PA Sunshine program.

Borrego Solar and Reading Electric also anticipate funding from the Federal Renewable Energy Grant Program totaling more than $9 million. To facilitate these 32 companies’ ability to enjoy the benefits of going solar, Borrego Solar has offered to “carry” both the PA Sunshine and Federal Grant portions of these projects’ costs until they are received, leaving customers with a more manageable out-of-pocket financial obligation and overall enhanced project economics. Customers are responsible for providing funds only for the non-grant portion of their project—typically 45-55 percent of the total project cost.

Borrego Solar also does not charge an interest cost for carrying the grant portions of the project. This approach represents a unique financial innovation and material incentive to these companies, enabling them to be at the leading edge of the development of commercial solar photovoltaic (PV) systems in Pennsylvania. For the 32 projects that Borrego Solar and Reading Electric have jointly developed, Borrego Solar anticipates taking responsibility for nearly $17 million in incentive receivables from the two main funding programs (PA and Federal Government).

For Reading Electric’s own facility, Borrego Solar and Reading Electric have secured a $281,075 grant for a 145 kW rooftop/ground mount solar system and an anticipated $251,307 from the Federal Renewable Energy Grant Program. The system will generate approximately half of the company’s energy consumption. To be installed by the Borrego Solar-Reading Electric team, the system is projected to reduce Reading Electric’s energy costs by more than $700,000 over its lifetime.

“For more than 50 years, Reading Electric has prided itself on offering the most cost-effective technology innovations and electrical contracting services to customers across Southeastern Pennsylvania. We are excited to incorporate solar into our services portfolio and lead by example by installing our own solar energy system,” said Reading Electric's General Manager. “Solar represents a tremendously attractive alternative or compliment to traditional electricity, especially as caps on electricity rates expire—some as early as January 2010—and energy prices throughout the state begin to rise. Through our partnership with Borrego Solar, we look forward to helping businesses realize the benefits of solar energy.”

“Pennsylvania is emerging as a national leader in solar energy thanks to the progressive PA Sunshine Grant and other state-sponsored incentive programs,” said Alex Sarly, Mid-Atlantic regional business development manager at Borrego Solar. “We are excited to partner with Reading Electric, as our solar expertise aligns nicely with Reading’s established regional presence as a leading electromechanical equipment and services supplier. Together, we plan to accelerate the adoption of solar energy across Southeastern Pennsylvania and help local businesses take advantage of the long-term financial and environmental benefits of clean, renewable solar power.”

About Reading Electric

Reading Electric is a leading supplier of electromechanical equipment and services, and has provided problem solving solutions to Industrial, Commercial and Municipal customers for over 50 years. For more information about Reading Electric’s solar installation, or for inquiries about a solar array for your facility, contact Reading Electric at 610.929.5777.

About Borrego Solar Systems, Inc.

Established in 1980, Borrego Solar Systems, Inc. is one of the nation’s leading designers and installers of commercial and government grid-connected solar electric power systems. Borrego Solar’s photovoltaic systems are efficient, reliable and cost-effective. With more than two decades of experience and more than 1,000 installations—totaling more than 15 MW—Borrego Solar offers a complete line of design and installation services throughout California, New England, New Jersey, New York and Pennsylvania. For more information, visit www.borregosolar.com.


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