SOUTH PLAINFIELD, NJ-Solar Rainbow Services will install a one-megawatt solar photovoltaic system over 120,000 square feet at Omni Holdings’ facilities at 4301B New Brunswick Ave. here. Solar Rainbow has already re-roofed the building, and construction has begun on the first phase of installation, which will place 330 kilowatt on 40,000 square feet.

Once completed, the company will begin phase two, a system of approximately 660 kilowatts on 80,000 square feet. The entire project will be completed by June. The installations will generate approximately 1.1 million kilowatts per year, producing 80% of the facilities’ current electrical needs. The results will reduce tenants’ carbon emissions by nearly 1.8 million pounds per year.

Solar Rainbow will also assist Omni Holdings in retrieving a federal cash grant under the national stimulus funding from the American Recovery and Reinvestment Act that refunds 30% of the project’s cost. “With energy savings and revenue generated through solar renewable energy certificates and the 100% bonus depreciation, Omni Holdings expects to recoup its investment within two years,” says Elliot Braha, the company’s co-president.