January 13, 2014
Under Governor Cuomo's NY-Sun initiative, Signal Transformer, a division of Bel Fuse Inc. (NASDAQ: BELFA) (NASDAQ: BELFB), completed the installation of a solar photovoltaic (PV) system at their Inwood, NY facility. Signal Transformer is a premier manufacturer of high-efficiency transformers, chokes, and inductors, which are widely employed in an array of mission-critical power applications worldwide.
Sandy Axelrad, general manager of Signal Transformer, stated, "We are proud to help build a clean energy economy in New York State by participating in Governor Cuomo's initiative to make the state's energy systems more efficient. Signal Transformer has long recognized the need to move energy generation from carbon-based to clean, renewable energy, and the NY-Sun initiative enabled us to contribute to this migration. This solar project represents our continuing efforts to manage both our electricity costs and our environmental footprint. The installation is a steppingstone in Signal's on-going strategy to maximize its energy efficiency, and signifies our growing commitment to provide the market with innovative, high-efficiency products."
Started in July 2013, the 129 kilowatt (kW) rooftop solar project was designed, engineered and installed by EnterSolar, a New York-based provider of commercial solar solutions. Signal Transformer's state-of-the-art system now provides much of the building's electricity while notably producing enough renewable energy to make up for over 200,000 pounds of carbon dioxide per year. It moreover features smart-grid technology and integrates an advanced supervisory control and data acquisition (SCADA) computer-controlled communications system that enables the Long Island Power Authority (LIPA), managed by PSEG Long Island LLC, to remotely monitor its functions.
The PV deployment incentive program administered by the New York State Energy Research and Development Authority (NYSERDA) and Long Island Power Authority (LIPA) is a key component of the NY-Sun initiative, a public-private partnership intended to expand the growth of the solar industry and reduce the cost of solar technology. Expected to pay for itself in just a few years, the project's cost was partially offset by a 30% federal tax credit and an accelerated depreciation incentive. Moreover, LIPA provided a $172,000 rebate for the system.
"EnterSolar is committed to helping companies achieve their environmental goals and manage their electricity costs," stated EnterSolar's President, Paul Ahern. "The NY-Sun initiative is helping reduce the expenses associated with solar power, and making it financially feasible for companies like Signal Transformer to realize the benefits of this renewable resource. We congratulate them for their efforts to provide cleaner energy for New Yorkers."
The current details of Signal Transformer's solar photovoltaic (PV) system may be viewed online.
Bel and its divisions are primarily engaged in the design, manufacture, and sale of products used in networking, telecommunications, high-speed data transmission, commercial aerospace, military, transportation, and consumer electronics. Products include magnetics (discrete components, power transformers and MagJack® connectors with integrated magnetics), modules (DC-DC converters and AC-DC power supplies, integrated analog front-end modules and custom designs), circuit protection (miniature, micro and surface mount fuses) and interconnect devices (micro, circular and filtered D-Sub connectors, fiber optic connectors, passive jacks, plugs and high-speed cable assemblies). The Company operates facilities around the world.
EnterSolar is a leading New York-based provider of comprehensive solar energy system solutions to the commercial marketplace. Unique in its combination of solar development expertise and financial structuring capabilities, the Company works exclusively with commercial enterprises to deliver optimal solar solutions with compelling, long-term ROI. For more information visit www.entersolar.com.
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