Public Funding Making Business Sector Solar Retrofits More Viable
December 17, 2009 Kyriaki (Sandy) Venetis 
Solar Energy Consultant Bob Gentile and large solar array. Photo courtesy of Abundant Energy Inc.
As solar technology in the United States becomes more refined and public funds in the forms of federal grants and state rebates become increasingly available, more and more business are starting to retrofit.
Over the last few months, Florida has seen some of the nation’s biggest growth in the development and use of solar power. Last month, President Barack Obama was on-hand at the Florida Power and Lights DeSoto Next Generation Solar Energy Center as it powered up for the first time.
With more than 90,500 solar panels, the plant is now the largest solar photovoltaic facility in the country, with the capacity to annually generate an estimated 42,000 megawatt-hours or enough power to serve about 3,000 homes.
By early next week, the installation of the largest privately owned solar array in Marin County, Fla. will be completed, according to Derrick Christenson, a real estate associate with Christenson Commercial.
Solar installation at Sawgrass. By Abundant Energy.
When fully installed, Sawgrass Business Center’s array of about 550 solar photovoltaic electricity generating panels are expected to offer enough energy to “power 20 homes, and are specially designed for high wind speeds in South Florida,” said Justin Hoysradt, vice president of sales at Abundant Energy, provider and installer of the panels.
Mr. Hoysradt elaborated more on how things will work, explaining that, “the system is tied to the smart grid. The solar panels will work in combination with the utility power coming into the complex. The solar power will contribute to the operating of everything in the complex, whether it’s lighting, air conditioning, water heating, or any other equipment that uses electricity. The complex is solely electric powered.”
Sawgrass is a multiuse commercial complex, and a number of investors, which own the majority its the units, initiated the solar retrofit in late April of this year. Things got off to a rough start, according to Mr. Hoysradt, explaining that “the project experienced slight delays with association approvals, securing some bank financing, as well as needing additional guidance regarding the process for making an application for a federal stimulus grant.”
Mr. Hoysradt went on to say that, “Even though this was a large project, the recovery was too quick for most banks to have an appetite for it. Most banks are looking for projects over $20 million in this industry. Fortunately, we were able to finance a portion of it ourselves to get the project moving.”
This project, according to Abundant, fit the criteria for investors to recuperate 30 percent of their initial investment within 90 days of completion, with a federal grant. In addition, the project also qualified for funds from the Florida Solar Energy Rebate program. “More than 75 percent to 85 percent of the system will be recaptured,” said Mr. Hoysradt.
Mr. Christenson, who is the listing agent for the complex, added that, “Aside from solar energy incentives, the investors are also looking to attract tenants.” Mr. Christenson promotes the complex’s lower utility bills and ‘green’ environment.
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