Airdrome Orchards is a family-owned business in San Jose, California. A forward-thinking company, it wanted to ensure success for future generations by installing solar power on its citrus packing house to protect against rising energy costs.
Airdrome had been considering installing solar power for several years, but it wasn’t until Centrica Business Solutions presented it with dynamics making solar financially appealing that the company decided to take the next step.
Airdrome was impressed by the professionalism of Centrica Business Solutions and its solar proposal from the start. It delivered a complete solution for Airdrome by sourcing a specialty lender that was able to monetize available tax incentives and in turn provide Airdrome with an operating lease that included an agricultural rate. This subsidized interest rate through Centrica Business Solutions’ facilitated lending solution allowed Airdrome to be cash-flow positive from day one.
Given the space constraints of Airdrome’s rooftops, Centrica Business Solutions recommended high-efficiency solar panels, which were a crucial element in reaching the energy production targets and achieving the best long-term savings.
During the system installation, Centrica Business Solutions consistently exceeded Airdrome’s expectations regarding the timeline, quality of workmanship, and level of customer service. The crew worked within Airdrome’s time contraints and efficiently installed the system with no impact to Airdrome’s daily operations.
In just the first twelve months of operation, the solar panels are projected to produce 477,953 kWh, and Airdrome will avoid over $100,000 of grid electrical costs in that same timeframe.
Due to the operating lease that Centrica Business Solutions facilitated, Airdrome benefited from zero upfront investment costs and will be cash flow positive for the lifetime of the system. Over the next 25 years, Airdrome’s savings are anticipated to climb to approximately $3.5 million, which includes all the leasing payments and the buy-out of the system. Airdrome can now focus more of its budget on its core business for the future, instead of on local utility costs.
In addition, the project reduces the company’s annual carbon footprint by approximately 330 tons.
Finally, though the project was finished on time and on budget, at the signing of the initial agreement, the California Solar Initiative rebate program had expired. However, by the time the system was commissioned, the program had been replenished. Centrica Business Solutions had the necessary expertise to guide Airdrome through the filing process, helping save an additional $35,000 and maximize the value of the system.
Working with Centrica Business Solutions went very smoothly. They are a quality enterprise, and we look forward to a high performance from our solar system over the long term.” John Fumia, Owner, Airdrome Orchards
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