WILEY PROPERTY MANAGEMENT
Wiley Properties takes advantage of Group Hosting to leverage solar energy across two assets and locations.
Wiley Properties has 60 years of experience in all aspects of real estate development.
Wiley Properties, who owns a Wendy's fast-food restaurant and a storage facility, was facing a common challenge: high energy usage and costs at their restaurant, but the buildings small roof was prohibitive for a commercial solar array. Thanks to Group Hosting in New Hampshire, and Genie Solar’s creative thinking, a solution was found.
By installing the solar panels on the roof of their storage facility, Wiley Properties was able to generate renewable energy that could be virtually fed to their Wendy's restaurant. This decision not only allowed the company to offset the high costs of energy usage but also created local generation and promoted sustainability by reducing the restaurant's carbon footprint. Additionally, these moves positioned Wiley Storage as a forward-thinking company, showcasing their commitment to eco-friendly practices.
I never would have thought we would be able to reduce our operating expense with such a fast return – it seemed to good to be true. With Genie Solar’s help, our restaurant’s energy bills won’t be going through the roof like our competitors! Thanks to their expertise and problem solving, we are now able to generate enough power to offset all three locations energy.”
Mike Wiley, Owner of Wiley Properties
THE PROJECT DETAILS
Location | Concord, NH
Output Capacity | 100-kW
Estimated Annual Production | 114,854 kWh
Panels | 258
Project Type | Roof Mount – Group Host
The success of the solar array installation at their storage facility has been significant for Wiley Properties. The savings generated from the solar panels have allowed the company to reinvest in their business and achieve their long-term financial goals. The move towards renewable energy has been a game-changer for Wiley Storage and has set an example for other businesses to follow suit in promoting sustainability while saving costs.
The installation of the commercial solar array on the roof of Wiley Storage’s storage facility is leveraging a limited regulation called “Group Hosting”. Group hosting is a method where a group of businesses or individuals share the installation and use of a larger solar array on a single property. In this case, the Wendy’s restaurant and the storage facility shared the same solar panel installation, allowing them to benefit from the local, renewable energy generated by the array without each having to install their own smaller system. This regulation, while limited in size, is particularly useful for businesses with limited space on their properties, as it allows them to still benefit from solar power without compromising on the amount of space, they need for their business operations. Group hosting is a cost-effective and sustainable solution that has been gaining popularity among businesses looking to reduce their carbon footprint and energy costs.
With the help of the USDA’s REAP Grant (Rural Energy of America Program), a federal grant that awards major funding for companies across the US is rural areas, as well as the ITC credit, accelerated depreciation, and RECs, Wiley was able get 80% of the installations costs offset. This resulted in a great ROI payback period of 4 years.
“This was a very exciting project for us. To be able to leverage NH’s Group Hosting opportunities was huge for Wiley. So many states have unique opportunities to make very creative commercial solar solutions come to life.”
Sara Schwandt, Managing Director of Genie Solar Energy