|Published:||Feb 25, 2013 5:18 PM EST|
|Updated:||Feb 25, 2013 11:52 PM EST|
FORT MYERS, Fla.- Four thousand solar panels now line the rooftops at Fleamasters Flea Market.
"The system will generate 1.6 million kilo watts of hours of electricity a year. That is the same as powering up fifty homes, " said Doug Griffin. He owns Solar One Financial.
"That is one thing we are proud of our carbon footprint. It is greatly enhanced by those solar panels five thousand tons of carbon-that's a lot of carbon, " said Andrew Steele. He owns Fleamasters Flea Market.
Saving the environment, while saving money is why Steele put the panels in over the last six months.
Fleamasters' electric bill was $300,000 a year. Now their bill has been reduced by about 85 percent.
In 2009, federal tax laws changed providing incentives to business owners who invest in this kind of green technology. Solar One Finacial out of Lee County helps businesses transition.
Griffin said, "There is a 30 percent federal tax credit which is a dollar for dollar reduction on your federal taxes also deprecation and there's a bonus deprecation which is an incentive by the government to make investments in this area. Those two items combined pay 60%of the cost of the installation for a commercial business owner."
The solar panels at Fleamasters were invented 50 years ago. They were used by NASA to power the space station.
The panels have a life cycle of thirty to fifty years.