April 18, 2023
As one of many first public companies nationwide to make the most of expanded federal renewable energy incentives, Peninsula Clean Energy has reached progressive agreements with 9 cities in California and San Mateo County to put in solar and future battery storage on public buildings.
Peninsula Clean Energy is executing 20-year power buy agreements (PPAs) to put in 1.7 MW of solar power on 12 public buildings in San Mateo County and town of Los Banos.
The agreements embrace solar power methods on the San Mateo County Human Services Agency Center in Redwood City; Atherton Town Hall; Brisbane Mission Blue Center; Colma Community Center; Hillsborough Public Works Yard; Los Banos Community Center; Los Banos Wastewater Plant; Millbrae Town Center advanced; Millbrae Recreation Center; Pacifica Community Center; San Bruno Aquatics Center; and the San Carlos Youth Center. In addition, not less than three communities can be including battery storage to offer backup power.
The solar power installations are anticipated to be operational by the top of 2023 and ship an estimated $17 million in lifetime energy financial savings to collaborating cities and San Mateo County.
“Climate change is real and it’s impacting us now more than ever. It’s vital to our community and the environment to expand renewable energy projects and slash energy costs,” mentioned San Mateo County board of supervisors VP Warren Slocum, whose district contains the county’s Human Services Agency Center. “The identification and coordination of these public sector projects are a practical demonstration of the benefits Peninsula Clean Energy brings to our communities.”
Peninsula Clean Energy is offering the development capital and is among the many first to make use of the direct pay advantages included within the federal Inflation Reduction Act. This permits certified tax-exempt challenge builders to straight declare the total worth of the 30% federal Investment Tax Credit with out having to share the worth of the credit score with a tax fairness companion. The result’s a decrease PPA value and better energy financial savings for the cities and county amenities the place these initiatives can be put in.
“We want to do everything we can to bring more renewable power online. With this innovative program, we take the burden of solar and storage project development off of city and county staff and achieve cost reductions through scale,” Peninsula Clean Energy CEO Jan Pepper mentioned. “This is a win for our customers as well as a win for Peninsula Clean Energy in continuing to execute on our public agency mission. Congress and the Biden administration have given us a valuable tool with ‘direct pay’ under the Inflation Reduction Act.”
A second spherical of this system can be already underway, with Peninsula Clean Energy having accomplished designs and interconnection functions for greater than 40 websites to put in roughly 15 MW of solar and doubtlessly battery storage methods throughout its service territory.
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Tags: industrial and industrial, Peninsula Clean Energy, PPAs, storage
