Third Party Ownership
Est. Annual Savings:
A nationwide big-box retailer reached out to Solomon Energy to review the potential of utilizing solar energy on its 850,000 square foot corporate headquarters to help offset the electrical usage of the building and nine surrounding retail locations.
rnDespite having lower than average electric rates in Minnesota when compared with the rest of the country, the large flat-roofed facility at the clients’ headquarters allowed for a larger scale system, which in turn lowered the PPA rates that solar developers offered to Solomon’s client.
rnXcel, the utility in Minnesota, offers its customers an attractive solar credit which pays its customers for solar-produced electricity. Since the value of the solar credits exceeds the price Solomon’s client pays to the solar developer, the client can expect to save $1.5 million in electric savings over the course of a 20 year PPA agreement.