EnterSolar Announces Completion of Solar Project for Ontel Products Corp.
New 228kW Solar System supplies electricity to Ontel's Corporate Headquarters in Fairfield, NJ
FAIRFIELD, New Jersey, January 23, 2012 -- EnterSolar, a leading provider of commercial solar systems to corporate customers, today announced the completion of a 228 kilowatt (kW) solar photovoltaic (PV) system for Ontel Products Corporation ("Ontel"), a pioneer in the "As Seen On TV" industry and a leader in the direct response & retail market. The solar PV system was installed on the roof of Ontel's Corporate Headquarters facility located at 21 Law Drive, Fairfield, NJ and was formally placed into service in December 2011.
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"Ontel has a strong commitment to environmentally-sustainable business practices", said Chuck Khubani, founder and CEO of Ontel, "and we are proud to announce the completion of this important renewable energy project". The system will consist of 950 individual solar panels and will produce over 270,000 kilowatt-hours of electricity per year. This equates to the reduction of more than 350,000 pounds of carbon emissions annually. Over the next 25 years, the system will produce 6.4 million kilowatt-hours, enough electricity to power over 35 homes for that same period.
"Our new solar energy system will generate essentially all of our Headquarter facility's annual electricity needs," said Mike Wade, CFO of Ontel, "and in addition to the significant environmental benefits, the long-term economic returns are quite attractive." Ontel's solar project incorporated a number of renewable energy incentives, including the Section 48 Investment Tax Credit and the PSE&G Solar Loan Program, while also taking advantage of special Bonus Depreciation benefits for solar projects.
"We are excited to have partnered with an innovative market leader like Ontel", said EnterSolar's Peyton Boswell, "and we commend Ontel on their environmental leadership". EnterSolar developed the project from their New York City and Newark offices. Installation services were provided by Hoboken-based New Generation Energy & Environment.
About Ontel Products Corporation
Founded in January 1994 by Chuck Khubani, Ontel Products Corporation quickly became a multi-million dollar business and a leader in the direct response & retail industry. With innovations such as the short form infomercial and products such as Snap Hook, Gopher, Glass Wizard, Dryer Balls, and Swivel Sweeper, Ontel's products are recognized and used all over the world. More information about Ontel is available at www.ontelproducts.com.
About EnterSolar
EnterSolar is a leading provider of commercial solar photovoltaic systems to the business market. The Company focuses on the specific and demanding needs of the Corporate customer, delivering compelling long-term Return on Investment ("ROI") results for its clients. Additional information about EnterSolar is available at www.entersolar.com.
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