The two companies, responsible for financing and installing solar projects, arranged a Power Purchase Agreement (PPA) for the school district. Enfinity will finance and operate the system, selling electricity to the district at a lower rate than it currently pays.
The PPA will save PUESD up to $150,000 over five years. Also, the 788 kilowatts that PUESD's solar panels produce will offset 25,800 tons of carbon emissions over their operating life.
The discounted energy costs provided by Enfinity's PPA are made possible by accelerated depreciation and federal tax incentives from the California Solar Initiative, says lead project developer Mark Dominé. The California Solar Initiative budgets $1.7 billion for consumer solar incentives between 2007 and 2016.
A significant advantage of the Conergy-Enfinity partnership is that no capital expenditure is required by the school district. PUESD can focus only on its core educational mission and enjoy the lower energy costs provided by their solar panel project.
