Stellar Energy, a leading engineering, procurement, and construction (EPC) firm, announced today that it has completed a 1.158 megawatt (MW) solar project at Sonoma Mountain Village. The system was financed in part through Sonoma Countys Property Assessed Clean Energy (PACE) finance program and is the largest solar system in Sonoma County to be PACE-financed to date.
Sonoma Mountain Village is now able to generate 100 percent of its electricity needs from on-site solar. Sonoma Mountain Villages newest solar energy system is composed of two roof-mounted solar electric arrays. It features 4,928 solar modules, three Satcon Inverters, and internet-based monitoring to measure and display performance. Installing the systems large inverters was a logistical challenge requiring special lifts to maneuver and fit into them in a secure, indoor electrical closet.
Stellar Energys crews were able to complete construction on budget and 30 days ahead of schedule, enabling operations to start earlier than initially planned. We are proud to help Sonoma Mountain Village and Codding reach their 100 percent renewable energy goal. said Matt Lugar, Vice President of Sales and Marketing at Stellar Energy. We are also pleased to now have a large solar array on the roof of the office building where we work, which serves as a showcase for a successfully financed and installed solar project.
We were delighted to have Stellar Energy coordinate additional solar capacity for our buildings at Sonoma Mountain Village. said Brad Baker, Chairman and CEO of Codding, developer of Sonoma Mountain Village. Sonoma Mountain Village is the first One Planet Community in North America and has received LEED-ND Platinum status from the US Green Building Council for its project plan. This additional 1.158 MW photovoltaic system allows us to generate 100 percent of our power needs for the planned community with on-site renewable energy.
The project was a renewable energy industry first in being the first privately financed commercial PACE project. The ability of private capital providers to use the PACE finance mechanism to provide long term, affordable funding promises to greatly expand the market for commercial-scale solar. Sonoma Mountain Village worked with Clean Fund LLC, commercial PACE project finance specialists, and the Sonoma County Energy Independence Program to pilot the PACE financing mechanism being adopted by the major programs being rolled out by San Francisco and Los Angeles County.
Economically, the project is expected to save over $200,000 in electricity costs each year. In addition, Sonoma Mountain Village was able to take advantage of Section 1603 of the 2009 ARRA bill, the federal grant in lieu of tax credit, which reimbursed 30 percent of the projects cost, as well as accelerated depreciation of the system and utility rebates.
We couldnt have asked for a better project to serve as the example for a major industry first said John Kinney, CEO of Clean Fund. Sonoma Mountain Village demonstrates how PACE finance allows renewable energy solutions to make compelling economic sense for commercial building owners today.
