Lakeside became the first automotive dealership in the city to source its utilities through solar power, according to Dallas-based Sunfinity Renewable Energy, which designed, engineered and installed the new system for the dealership.
Lakeside, which has operated in Rockwall for the past 50 years, had a total of 588 panels making up the system placed on each of its four buildings: the main building, service shop, auto body repair shop and warehouse. The system totals 199.9 kWh and is projected to offset the total power generated from the dealership by more than 300,000 KWh per year. That will save the dealership an estimated $566,000 in savings in electricity costs over the next 30 years.
Not only will it cut electricity costs for Lakeside, but the system will also favorably impact the environment by reducing around 500,000 pounds of carbon dioxide per year. The dealership was also able to save on the cost of the system through the combination of a 30 percent federal tax credit and Oncor’s Solar Rebate program. Throughout 2019, the federal government offers a tax credit, known as the investment tax credit (ITC), which allows business owners and home owners to deduct 30 percent of the cost of installing a solar energy system from their federal taxes.
Lakeside Chevrolet Dealer Bob Holliman said the eco-friendly system helps give the dealership a strategic advantage in the highly competitive North Texas auto sales and service industry.
“I had my eye on solar panels and I realized that we have lots of rooftop. It was kind of like a farmer realizing exactly how much sun he’s going to get out on his fields. With the favorable tax credit and Oncor solar incentive, it was really a no-brainer to get a solar panel system installed,” Holliman said.