How Gainesville Health & Fitness Went Solar
Contact UsAbout Gainesville Health & Fitness Going Solar
Meet Mike Kline, the CFO of Gainesville Health & Fitness (GHF), who is leading the charge to make GHF an environmentally sustainable fitness center by adding a solar panel energy system. Mr. Kline’s interest in solar power was sparked by seeing other fitness centers across the country switch to solar and reporting excellent results in money savings. His goal is to decrease the monthly energy expenditure of the center and make it less reliant on the local utility company while also contributing to a cleaner environment.
After researching the potential benefits of solar power, Mike Kline and the GHF team decided to add a solar system to the facility. PPM Solar installed the 530.59KW solar power system, consisting of over 1,000 solar panels, generating around 787,220 kWh of electricity annually, thus offsetting a significant portion of the center’s yearly energy consumption. The addition of the solar system will save money on their electricity bill and contribute to a healthier and more sustainable environment.
The federal tax credit and the accelerated depreciation tax method contributed to the final decision to add the solar system to the GHF facility. By taking advantage of these two incentives, GHF could further reduce the system’s payback time, making it a wise financial decision for the company.
Overall, Mike Kline’s leadership in implementing the solar system at GHF is a testament to the company’s commitment to sustainability and its desire to impact the environment positively. The solar system installed by PPM Solar will produce enough energy to eliminate the annual burning of around 335,000 pounds of coal by the local utility company. By going solar, GHF is becoming a leader in the fitness industry and setting an example for other businesses to follow in promoting sustainability and responsible energy consumption.
GHF’s Financial and Environmental Incentives to Go Solar
Gainesville Health & Fitness (GHF) switched to solar for several reasons. Firstly, by generating electricity through solar panels, GHF could reduce the amount of energy they purchase from the utility company, resulting in lower monthly energy costs. As a large facility with high energy demands, this would result in significant savings over the solar energy system’s estimated 25 to 30-year lifespan.
Secondly, the Federal Tax Credit (FTC) and Modified Accelerated Cost Recovery System (MACRS) provided financial incentives that sealed the decision to go solar. The FTC offers a credit of up to 30% of the total cost of the solar system, claimed against federal income taxes. This credit significantly reduces the overall cost of installing a solar system, making it a more financially viable option for businesses like GHF.
The Modified Accelerated Cost Recovery System (MACRS) is an accelerated depreciation incentive that allows businesses to depreciate the cost of the solar system over a shorter period, resulting in more significant tax deductions in the first years of operation. This depreciation method means that companies can recover their initial investment in solar more quickly, resulting in a faster return on investment (ROI).
With PPM Solar, many businesses, including GHF, have combined these two incentives to switch to solar. Not only does this result in significant savings on energy costs over time, but it also positions businesses as leaders in sustainability and environmentally conscious practices. GHF’s decision to go solar is a wise financial decision and a commitment to the environment and the community they serve.
GHF Benefits from Cutting-Edge Technology in Solar Array Design & Installation
PPM Solar, the company that installed the solar system at Gainesville Health & Fitness, uses cutting-edge technology to determine the appropriate solar array size for a business. They use software, systems, and on-site processes that consider factors such as energy usage patterns, building orientation, shading, and climate to optimize the size and placement of solar panels. Doing so results in a cost-effective system producing the maximum energy.
Not only does PPM Solar use technology to design a system tailored to the business’s unique needs, but they also ensure a quality installation. They have a team of experienced, certified professionals who use top-of-the-line equipment and materials to install solar systems that last years and generate a high financial return. This commitment to quality ensures that businesses like GHF can rely on their solar system to produce clean energy and cost savings for years.
Gainesville Health & Fitness has benefitted dramatically from PPM Solar’s technology, professionalism, and expertise. The use of cutting-edge technology to design the system has resulted in a solar array that generates maximum energy and savings, providing GHF with a reliable and cost-effective source of electricity. PPM Solar’s quality installation ensures that the system operates optimally. And PPM’s continued support will keep it performing at peak efficiency.
Additionally, PPM Solar has given GHF valuable expertise in understanding the financial incentives of going solar. Their understanding of the Federal Tax Credit (FTC) and Modified Accelerated Cost Recovery System (MACRS) has enabled GHF to take full advantage of these incentives, resulting in significant savings on the cost of their solar system. PPM Solar’s commitment to providing exceptional service throughout the system’s life has enabled GHF to focus on its core business while enjoying solar energy’s financial and environmental benefits.
Mike Kline, the CFO of GHF
