Solectria and SolarOne Financial completes 1.2MW Florida installation

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Manufacturer Solectria has provided inverters for a 1.2MW solar PV installation by US-based SolarOne Financial in Florida.

Solectria’s PVI 60-95kW inverters will be used for an installation at the 26 year old Fleamasters Market in Fort Myers. The market is a 900,000 square foot retail sale property incorporating 1,000 retailers, with energy bills reaching on average US$300,000.

SolarOne claims that since the system has been turned on, it has reduced actual energy usage by nearly 90%.

Over the next 30 years the nearly 4000 modules will generate a forecasted US$16 million dollars in net electric savings, said SolarOne.

“During our initial evaluation we confirmed our payment of over US$7.5 million to our local utility in our first 26 years of business. By retaining these additional dollars the value of our family business will increase over US$1 million in just the first year. It was nearly the equivalent of increasing our business by 10% without the investment in expanding buildings and the related future costs of maintaining those buildings” said Andy Steele, Owner, Fleamasters Fleamarket.

“SolarOne Financial, LLC has created a unique financing model to assist commercial businesses, such as Fleamasters, to take advantage of solar, save electricity costs and benefit from federal tax credits and bonus depreciation,” said Steele.

“We were able to carry back and recapture Federal taxes paid in the prior two years, by check, from the Internal Revenue Service. Plus using MACRS depreciation and the remaining Investment Tax Credit (ITC) we will carry forward to offset our forecasted Federal and State taxes for the next 3-4 years. Without SolarOne’s 3.99% APR BRIDGE financing and support throughout the project, it wouldn’t have turned out as successful as it did,” concluded Steele.

Annually, Fleamasters Market is expected to generate 1,680,000 kWh which is equivalent to removing 1125.6 tons of CO2, removing 136 cars, 116,041 gallons of gas, planting 840 trees or powering 14,383 light bulbs annually.

“Fleamasters sets an example for other commercial businesses to take advantage of the available Federal tax credits and accelerated depreciation while saving money and improving the environment,” said Doug Griffin, CEO, SolarOne Financial, LLC.

SolarOne has promised an investment of US$50 million in commercial and residential solar leasing and financing in 2013.
 

19 October 2021
This year’s EV World Congress will hold a special role, not only as the first live EverythingEV event in over a year – a chance to renew your connections and re-engage with the EV sector face to face – but also as a chance to share insight and inspiration as world starts to look towards move on post COVID towards hitting ambitious decarbonisation goals in 2030 and beyond. As ever, we will be bringing world leading organisations, cities, and technology providers to the UK to inspire EV innovators, and delve into the challenges facing the sector as the UK looks to revolutionise road transport.
20 October 2021
Utility-scale solar is evolving, shaped by higher power modules and demand for increasingly lower levelised cost of electricity (LCOE). Those trends are also changing project requirements elsewhere, with inverters capable of delivering high power density and power capacity in strong demand. In this webinar, FIMER will detail how its innovative high-power, multi-MPPT string inverter and modular conversion solution can both meet those demands and transform the utility-scale solar sector for the better.
20 October 2021
The race is on but we need to sprint… With global climate talks fast approaching and time running out to prevent the most disastrous impacts of climate change, now is the time to act. The Summit will explore the opportunities that emerge from taking action on climate change and provide a clear pathway forward for governments, citizens and companies. Taking place just 10 days before the G20 meeting in Rome, on 30-31 of October, and in the lead up to the critical COP26 meeting in Glasgow from 31 October–12 November, this event will be instrumental in influencing ambitious global action.
10 November 2021
The solar tracker market continues to mature at breakneck speed, with designs and component selections becoming ever-more complex in the pursuit of better project economics. But a more simplistic design could deliver a triple benefit of lower Capex, EPC and Opex costs. This webinar will set out the ideal single axis tracker design for utility-scale solar farms. The design leapfrogs from decades of experience, with a comprehensive understanding and attention to the three cost structures of Capex, EPC and Opx. Sun and Steel Solar has prototyped a single axis tracker designed to deliver up to US$0.03/W in real savings compared to existing single axis trackers on the market. That’s US$30 million for every gigawatt deployed.
15 November 2021
The 10th edition of the famous Metallization and Interconnection Workshop, MIW2021, will take place in the Thor Central venue in Genk, Belgium, on Monday, November 15, and Tuesday, November 16, 2021 as a face-to-face meeting. We are longing for direct exchange of knowledge and ideas after a long time. Hopefully you can be part of it! But of course, the organizors will keep an eye on the evolution of the Covid pandemic. It will be assess carefully, whether the workshop can be held without major risks or excessive restrictions. We are looking forward to exciting talks, discussions and meetings and to welcoming you in Genk!
23 November 2021
The solar, storage and EV industries in the UK are going from strength to strength. There is no better place for the community to meet, share ideas and do business than Solar & Storage Live from 23-25 November at the NEC.There’s something for everyone; more than 150 exhibitors, a high-level conference, a start up and innovation zone, a poster zone, strategic partners to network with and much more. 

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