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Mission Park Funeral Chapels and Cemeteries is expecting to pay out approximately $240,000 on a new investment opportunity that CEO Dick Tips expects to eventually pay for itself in about four years, and this is one investment that he hopes will create good clean profits in the future. The best part is that all he really has to do is wait for that big old Texas sun to do its thing.
Mission Park Funeral Chapels and Cemeteries is the largest funeral home in San Antonio and hopes to grow its business even more by using solar power. They have eight different facilities that have installed solar panels. At an overall cost of approximately a little over a million dollars, Tips expects to easily offset at least 50 percent of the company’s energy costs.
According to a press release from Freedom Solar, the company that put in the solar panels for Tips’ funeral homes, these solar panels are estimated to produce around 778,735 kilowatt-hours of electricity. In comparison, the typical homeowner only uses around a thousand kilowatt-hours in a single month.
Mission Park did receive some help when coming up with the funding for their new solar project. They were given $482,638 from CPS Energy’s rebate program, which accounts for nearly half of the funding they needed. Usually CPS rebates are limited to $80,000 per location for commercial businesses; however, Mission park put solar panels in eight of their locations, which gave them the opportunity to up their rebate to almost $500,000.
Then another 30 percent of the funding was awarded to them through federal tax credits. This left them with only a little over 20 percent of the project to fund on their own. Tips said that when you add up all of the rebates and look at what we spent out of pocket, you could easily anticipate this project to pay for itself in as little as four years. He knows that it is difficult to find any type of investment that will pay off as quickly as this one, so it was an easy decision on their part.
Tips not only considers the monetary feasibility of using solar panels, but he loves the clean power aspect of implementing them. He looks at his kids and wants to make a difference in the world they will grow up in. In fact, the solar panels are only part of the cleaner energy push in Mission Park. The company has its own little convoy of eighteen electric smart cars for their employees to utilize. They are also installing more energy-efficient light bulbs and air conditioning systems in their facilities.
Tips knows that anything you can do to become more energy efficient will be great for your company and everyone in general. He expects the company to incorporate even more solar panels in the near future and can not wait to find new ways for his company to incorporate clean energy.