Emerging Solar Investment Model Leads To Large NC Solar Project

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http://www.dailymarkets.com/stock/2011/06/25/emerging-solar-investment-model-leads-to-large-nc-solar-project/

Emerging Solar Investment Model Leads To Large NC Solar Project

Argand Energy Solutions of Charlotte, NC announced today the completion of two solar PV projects on the roof of the Service Thread distribution facility in Laurinburg. Under an innovative solar financial model, Service Thread will receive a lease payment for otherwise unusable rooftop space. The first system is an 11kW addition to the company’s existing 10 kW array, and the second is a new 250kW array, for which Service Thread is acting as host site by leasing their rooftop to a third party who will sell the renewable energy and credits to the Progress Energy Carolinas SunSense(R) Commercial PV program.

Under this innovative model for solar ownership, Service Thread had no out of pocket expenses and has converted their rooftop into an income generating resource. The lease income from the 250kW system helped to finance an 11KW system that will further leverage the solar investment to add additional revenue for Service Thread.

“We looked at developing a solar energy generation system on our 108,000 square foot distribution center building as a way to reduce our power costs. With the abundance of good North Carolina sunshine, we knew this was a natural place to operate a solar system. Argand Energy came to us with a proposal to host an additional solar panel installation on our roof. After internal discussion and engineering review, we decided to accept the proposal to host a new 250 kilowatt solar system, one of the largest privately owned systems in North Carolina,” said Jay Todd, COO for Service Thread.

Erik Lensch, President of Argand Energy commented,

“We are proud to be leasing the Service Thread rooftop for this large solar installation in Laurinburg. Service Thread has shown a strong commitment toward energy security and environmental stewardship by installing their own solar system and by using the lease revenue they receive from the Argand solar system to help them make additional investments in solar and energy efficiency.”

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