The following projects highlight our past & current work:
New York
Solar Power Financial was awarded $12.3 million, nearly 13% of funds allocated for the last reverse auction bids under the NY-Sun incentive. We used these funds to leverage more than $55 million of project costs, and delivered an average of 15% savings to customer electric bills across the state. Forty-nine developers submitted proposals for over 400 MW of projects in the competitive bid process. Just 214 MW were selected, including SPF. SPF remains active in NY as the NY-REV (Renewing Energy Vision) begins to set market values for a full stack of benefits provided by Distributed Energy assets like solar and batteries.
Hawaii
Solar Power Financial became active in the Hawaiian energy market in 2010 in response to the Feed-in Tariff incentives offered by the Hawaiian Electric Utility Companies. SPF developed and sold over 4MW of projects on Maui and Hilo. Hawaii has a goal to be 100% renewable energy powered and our energy storage financing solutions are well tailored for the HI market.
Colorado Charter School
SPF acquired a Power Purchase Agreement with the Pinnacle Charter School to design, construct, own and operate three roof mounted PV systems on three separate school buildings for a total of 675kW, making this installation one of the largest of its type in Colorado at the time. This project was completed on budget and as scheduled and commenced operation in spring 2013. Systems are monitored, with output and performance reported to the students in real-time, providing both hard data and more importantly, an opportunity to grow their awareness and relationship to renewable energy.
Xcel Energy Solar Gardens
Colorado enacted Community Solar legislation in the summer of 2010. Colorado's largest electric utility company, Xcel Energy announced its first solar garden awards program on August 1, 2012 which required all interested parties to race to win an award for Xcel's initial offering of 4.5MW. Xcel opened its bid program at 8AM August 15, 2012 and received applications from multiple bidders totaling more than 14MW by 8:15AM at which time it closed it program for the rest of 2012. Solar Power Financial received awards for two 500KW/DC ground mount systems in Aurora and Saguache Colorado totaling 1MW or nearly 1/4 of the total 4.5MW awarded by Xcel for the entire state of Colorado for fiscal 2012. SPF subsequently sold the Solar Gardens to the country's largest solar garden developer for a substantial fee.
Colorado Utility PROJECT
In 2015 SPF was part of the winning bid to build and finance a 16MW single-axis tracker solar PV system for a Colorado Utility. With over 15 other developers submitting proposal SPF assembled the winning team to present the best and lowest cost solution to maximize savings and benefits to the Utility ratepayers. The array sits on 156 acres of land owned by the Utility and was connected to the grid in 2016. It is the utility’s largest solar project providing enough power to supply about 3,000 homes.
Solar and Energy Storage
Batteries are quickly declining in cost making them a solid economic choice in more projects. But the right combination of storage, power control, energy management, material safety, warranties, and financing remains a moving target. SPF continuously researches new battery technologies, power control systems and energy management systems so you know you’re getting quality products that work seamlessly together and are selected and designed to meet your specific needs now and in the future. We also carefully select investors who understand the unique tax investment risks, and help us smooth out the often complicated nature of these projects.
