Maine's Largest Solar Array Going Up
ReVision Energy has teamed with Thomas College to install the state of Maine's largest grid-tied solar electric array.
The system, consisting of 696 solar electric panels, will produce roughly 10% of the Thomas College campus's annual electric needs, all while offsetting more than 100 tons of CO2 each year.
By working through a Power Purchase Agreement, or PPA, ReVision has teamed with Coastal Enterprises, Inc. to establish an innovative financing approach that allows ReVision Energy to own and operate the system on Thomas’s campus for six years, selling the power produced by the solar array to the college during that period. After those six years, the College can elect to purchase to array at a reduced price.
The current 30% federal tax credit is not available to non-profits, but through a PPA structure, the investing group can take these tax benefits, along with the Efficiency Maine rebate.
In recent months, ReVision has also established PPAs with the Natural Resources Council of Maine, Unity College, Colby Sawyer College, and Good Will Hinckley.
To learn more about PPAs for your town or non-profit, contact Jennifer Albee at email@example.com or call ReVision Energy at (207) 589-4171.