Total Annual Savings:
Solar Photovoltatic (PV) System
A solar photovoltaic (PV) system is a cost-effective and reliable form of renewable energy that can be used to offset expensive grid-supplied electricity and reduce building greenhouse gas emissions. PV systems can be procured directly through a certified installer, or indirectly by signing a power purchase agreement (PPA) with a 3rd party that owns and maintains the equipment and sells the energy back to the building owner at a negotiated price. There are trade-offs associated with each option that can impact upfront capital spend, incentives and overall system cost.
A parking structure is planned to replace the existing main parking lot at Spectrum. A ~430 kW integrated PV parking canopy can be added to the rooftop of the structure for roughly $1.5M assuming an installed cost of $3.50/ watt (W). The system would produce roughly 720,000 kWh and offset electric costs by approximately $140,000 each year.