Posted: Feb 5, 2010 8:07 PM by David Ortiviz
Updated: Feb 5, 2010 8:07 PM
A food distribution warehouse in Pueblo West is investing in a renewable energy that should reduce their electric bill by 23%.
Andrews Foodservice Systems is installing 500 solar panels on the roof of their building. The cost of the project was about $650,000. George Andrews III, the company's president says at first, he was hesitant about making the investment. "At the time I said I'm not interested," said Andrews. "Then as we started looking at it, we couldn't pass it up," he added.
The building is 110,000 sq. ft. and uses electricity 24 hours a day, mostly to power the storage freezers. Although there's a big up front costs, the panels have a lifespan of 25+ years, according to the company who installed the system, Vibrant Solar.
Andrews says he expects to see a return on his investment in about 4 years. "We can save hundreds of thousands of dollars through the next 20 years," said Andrews.
Federal tax incentives and solar panel rebates are available to help offset costs. Rebates are available at Black Hills Energy and Xcel Energy. Colorado Springs Utilities says it has already exhausted its rebates for the year, but you can put your name on a waiting list.