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RSI Banks on Solar Power

Solar Power System at RSI Bank in Rahway, NJ

RAHWAY (February 6, 2012) – In a move to reduce its electric costs, RSI Bank took a step in the green direction by installing a solar electric system at its main office in Rahway, New Jersey. The solar system, designed and installed by Bysolar, Inc., was completed in December 2011.

The 61.1 kW rooftop solar system consists of 256 Schuco solar panels and 256 Enphase micro-inverters. The micro-inverters will maximize the power from each module to help the solar system produce 75,028 kWh of electricity each year.

Besides performing the design and installation of the solar system, Bysolar helped RSI secure both federal and state incentives for the project. The bank is eligible to receive a federal cash grant equal to 30% of the system's post, thanks to Section 1603 of the American Recovery and Reinvestment Act, and sell its solar renewable energy certificates (SRECs) to help pay down the principal. Even though the price of SRECs has dropped in the past few months, the bank is still expecting the solar system to be fully paid off in under four years.

The system has been active less than two months, yet it has already generated 7.01 MWh of energy. This is the environmental equivalent of: offsetting 5.33 tons of carbon dioxide, planting 125 trees, and avoiding the use of 11.2 barrels of oil.

For more information about Bysolar, Inc., visit You may also find us on Facebook at Bysolar, Inc and on Twitter at @bysolar_inc.

About RSI Bank RSI was incorporated by an act of New Jersey State Legislature on February 19, 1851, and it opened its doors to the public on March 12, 1851. As one of New Jersey's oldest financial organizations, RSI has endured and even thrived through challenging periods in our country's history including the Civil War, World War I, World War II, the Great Depression of the 1930's and the banking crisis of the 1980's, when U.S. banks were failing at record rates. Their capital strength along with the support of the community they serve has allowed RSI to remain a fiscally solid provider of financial services and products.

About Bysolar, Inc. Bysolar, Inc. is a turnkey, innovative solar design and installation company located in Denville, NJ. Responsible for the deployment of solar electric systems on commercial and industrial facilities, educational institutions, churches, and multiple types of residential buildings, Bysolar's customized solar energy systems and solar energy backup system yield the highest electrical savings at the most competitive price to give Clean, Profitable, and Responsible energy. As Bysolar aspires to increase the use of renewable energy from the sun, it diligently strives to provide cutting edge, reliable technology and superior service to each of its customers.