As the North and South American arm of the Ricoh Company, Ricoh USA is a technology company that specializes in imaging electronics and printing equipment. Ricoh places a strong emphasis on sustainability, joining with other influential companies in committing to use 100% renewable energy by 2050 as part of the RE100 initiative. To help meet that commitment, Ricoh partnered with PowerFlex to install a ground mount solar photovoltaic system at their facility in West Caldwell, NJ.
Ricoh’s solar photovoltaic system is made up of 1,870 325W photovoltaic panels and has a total capacity of 607 kW DC. The ground mount system is adjacent to the facility’s parking lot and covers the area of approximately 1.3 football fields. It offsets over 50% of their annual onsite electrical consumption.The environmental benefits of the system are equivalent to taking 112 cars off the roads or saving nearly 60,000 gallons of gasoline a year. Ricoh’s use of solar power will result in the avoidance of 532 metric tons of carbon dioxide.
Ricoh entered a premium long-term fixed-price SREC contract to drive compelling project returns while mitigating SREC price volatility. The SREC contract guarantees that Ricoh will receive revenue for every MWh of solar energy generated. Entersolar’s expertise in optimizing system design and solar project financing made going solar a sound capital investment for Ricoh.For more than 10 years, PowerFlex has provided turnkey solar and energy storage solutions to clients such as Amazon, Target, and Bloomberg that help lower energy costs, increase property value and meet sustainability goals. We manage all aspects of the solar project, from development to execution and asset management, and work with real estate owners and tenants to make the process as simple and seamless as possible. Contact us today for a free solar assessment, and see how solar energy can work for your company.