Solar Project Expected to Reduce Electricity Costs by More Than $5.9 Million Over the Next 25 Years
(Nasdaq:RSOL), has been selected by Ironhouse Sanitary District (ISD) to deploy a 1.1 megawatt (MW) solar power system at its water recycling facility and administration building in Oakley, California.
RGS Energy will design, install, monitor and maintain the solar power system at the water recycling facility and the administration building.
The installation will be comprised of a 1 MW single-axis tracking system and 60 kilowatt carport system, which will generate more than 2.3 million kilowatt hours of solar electricity per year to power the facilities.
Construction is scheduled to begin in the fall of 2013 and be completed in the first quarter of 2014.
ISD’s current electrical cost for these facilities is more than $600,000 per year, but harnessing energy from the sun is expected to reduce the company’s cost of electricity by at least $95,000 in the first year alone, with a total savings of more than $5.9 million over the next 25 years. Over that 25 year period, the solar energy produced is expected to offset more than 89 million pounds of carbon dioxide emissions, or equivalent to taking more than 8,400 cars off the road (per EPA-based data).
RGS Energy’s financing partner, Smart Energy Capital, brokered a power purchase agreement between ISD and Constellation Energy Group, an energy supplier and business unit of Exelon. The agreement allows ISD to purchase the solar energy generated on site at less than market rates while funding 100% of the installation cost.
“RGS Energy showed us how going solar can be a sound and easily
affordable investment, while providing significant environmental benefits to the community we serve,” said Jenny Skrel, ISD’s district engineer. “This new solar power system will drastically reduce our electrical costs and decrease our carbon footprint, while requiring zero capital to implement.”
Tim Seamans, RGS Energy’s general manager, commented:
“We are proud to bring 100% clean renewable energy to the Ironhouse Sanitary District facilities. They are a perfect example of how a water recycling district can better serve the community by trimming costs and being good stewards of the environment.”
Sources: Ironhouse Sanitary District. www.ironhousesanitarydistrict.com.
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