Jan 8 2010
Solar Energy Initiatives’ 800 kilowatt project with the Canon City School District in Canon City, Colorado is completed and expected to be commissioned in January 2010. Solar Energy Initiatives is carrying out a grass roots campaign called “RENEW THE NATION”. The aim of this campaign is to redeploy a part of the US work force and to reduce the global dependence on fossil fuel by selling photovoltaic and solar thermal technologies.
This new solar energy solution implemented by Solar Energy Initiatives will enable the school district to save its energy costs as a result of the installation of 3,300 solar panels on ten buildings. Carbon dioxide emissions will also be reduced by 1,250 tons every year.
The solar system for the school district was installed at no “out of pocket” expense because of Solar Energy Initiatives’ partnership with a funding source, a solar installation company and a general contractor. The Power Purchase Agreement has been completed by Solar Energy Initiatives and the company has also completed the supplying of the solar equipment and balance of system for the school district project. Revenue will also be generated by Solar Energy Initiatives through the sales of newly generated solar power to the school district for over a period of 20 years as per the contract.
David Fann, Chief Executive Officer, remarked that the completion of this municipal installation highlights the capability of Solar Energy Initiatives’ cost-effective energy solutions to create fresh jobs and bring about reductions in the energy costs and strain on the grid through clean energy. Fann stated that the management is also intending to take up other municipal and school project development opportunities throughout the U.S. showcasing the completed project. Overall earnings and top-line revenue will be increased by the company as it is committed to finalize new contracts from its $ 100 million pipeline. Fann further remarks that Solar Energy Initiatives is confident of higher growth in the year 2010 and beyond.
Source: http://www.solarenergy.com/