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Sol Energy installation utilizes unique financing to incorporate solar energy into town projects.
(Carbondale, CO) – Sol Energy is fast becoming the leader of innovative alternative energy projects and unique financing solutions in the region, and their latest project was recently completed atop the Third Street Center in Carbondale. This former elementary school, which is being converted to house valley non-profits, is being remodeled inline with the town’s goals to reduce its carbon footprint and be a model of sustainable development.
In keeping with this goal, Carbondale-based Sol Energy installed a 53kW photovoltaic system that will provide an estimated 78,000 kWh of energy per year. The energy produced will prevent 171,600 lbs of CO2 per year from entering the atmosphere, the equivalent of 2,145 tons of CO2 over 25 years. According to Colin Laird of Healthy Mountain Communities, this new installation adds significantly to the PV systems already producing clean energy in the Town of Carbondale, bringing the estimated total of systems to around 500 kW.
The Third Street installation will produce around 40% of the building’s electrical use. With the building’s other green features, including better roof insulation, daylighting, and boiler upgrades, the project developers, Land + Shelter, foresee that the building will be able to reach or even exceed net-zero energy usage in the future.
“We'd love the opportunity to be a role model in terms of energy production,” says Andrea Korber of Land and Shelter. “The Third Street Center aims to export the lessons we've learned -- it's an important part of being a community project.”
Innovative Financing:
The Third Street project stands out in another way as well: It is the second large photovoltaic system that the Town of Carbondale has been able to install using an innovative financing mechanism offered through Sol Energy which allows municipalities to install large PV systems with no upfront cost to the taxpayers.
“It works somewhat like a lease,” says Sol Energy principal, Ken Olson who first proposed this method to the town.” The financing company invests in the PV system to take advantage of federal tax credits that are unavailable to the town. In return, the town can buy the clean energy that the PV system produces and after several years purchase the PV system at a greatly depreciated price. It’s really a win-win situation.”
The first large photovoltaic system to be financed in this way was installed by Sol Energy on the Carbondale Recreation Center in the spring of 2008. Building planners hoped to achieve a LEED gold designation, but because of the large PV system, the building was awarded the more prestigious LEED Platinum status and is now one of only 81 buildings worldwide to achieve the designation.
