Gorham's powers up

THURSDAY, DEC. 1: Gorham’s believes in the power of green.

The hardware supply store has given the thumbs up to Alternative Energy Systems (Bermuda) Ltd. (AES) to complete the second installation of the photovoltaic solar energy system to generate electricity at its store.

The second phase of installation will consist of an additional 86 kilowatts of capacity that combined with the 16 kilowatts from the first phase to equal 102 kilowatts. Gorham’s general manager Andrew Mackay says: “We completed the pilot phase of installation in September and we have been really happy with it.

“We’ve already seen some savings in electricity cost and now that BELCO is seeking to raise commercial electricity rates on average by 5 per cent per year for the next three years, we decided to move ahead with phase two.”

With 102 kilowatts of capacity, Gorham’s photovoltaic system will generate more than 13,000 kilowatt hours of energy per month.

At today’s energy rates, that is over $5,000 of electricity per month, or $60,000 per year, which means the system will pay for itself in seven years.

Tim Madeiros, AES CEO and founder said: “I commend Gorham’s for taking control of their energy costs and owning their own power, and I hope they will inspire other companies to do the same, especially as electricity costs continue to rise.”

For more information, visit AES online at www.aes.bm.