The St. Louis region made history when they announced two companies, Microgrid Solar and U.S Bank, will join together to finance solar installations to power more than 50 local nonprofit institutions. “The mass installation of solar systems is a first for the St. Louis region,” said Microgrid Chief Executive Officer Rick Hunter.
This project could include up to 120 photovoltaic (PV) systems and is expected to be completed by the end of the year. This mass installation will provide 25 KW producing nearly 30,000 kWh of electricity per year, saving tens of thousands of dollars annually for selected nonprofits. Hunter says that “this is a unique financing program that is really a first nationally, and which essentially provides solar to a nonprofit organization at zero budgetary cost.”
Here are schools and institutions that already have installations:
- SLU High School
- New City School
- St. Louis Area Foodbank
- Missouri History Museum
- Washington University
Going solar is not only financially beneficial, but also benefits the environment. Most households currently utilize electricity originating from the burning of natural gas and coal, neither of which is a renewable resource. Even worse, these energy sources emit greenhouse gases and other forms of pollution. A prominent advantage of solar energy is that it does not create pollution, nor does it contribute greenhouse gases into our atmosphere.
Microgrid Solar and U.S Bancorp Community Development Corporation (subsidiary of U.S Bank) are both renowned organizations using their assets to the advantage of non-profits when producing these installations. Microgrid Solar is a leading solar installer, based in St. Louis, which has already installed over 600 solar projects for commercial and residential clients across the country. The USBCDC provides innovative financing solutions for community development projects across the country using state and federally sponsored tax credit programs. Its commitment is to provide capital investment to areas that need it the most.
“Reliable solar is a great investment for businesses, communities, and financiers alike,” said Dan Siegel, vice president of USBCDC. “We’re proud to leverage our renewable energy expertise and support to create opportunities for sustainability in St. Louis.”
This installation will not only have an impact on organizations, but will also improve awareness and education on solar energy in the St. Louis area in general. Just weeks prior, the world’s largest airport car rental brand, Hertz, and Panasonic Enterprise Solutions Company, announced completion of a solar photovoltaic (PV) power installation at the St. Louis International Airport.
The installation consists of a 152-kilowatt solar PV system, designed to generate 187,000 kilowatt hours of energy in its first 12 months of operation.
These solar power installations in St. Louis are prime examples of how companies can be an integral part of the expansion of solar power. If more and more companies team up, these businesses might just become the face of sustainable energy investment.
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