Standard Solar, Inc., a leading solar energy company specializing in the development and financing of solar electric systems nationwide, today announced the completion of a solar project in Eureka, California in partnership with the Humboldt Bay Harbor District. The 717 kilowatt rooftop solar array,commissioned and financed by Standard Solar, will also be operated and maintained by the company.
With an expected $48,500 in annual savings, along with an upfront roof lease payment, the creative financing provided by Standard Solar will help the district achieve its clean energy goals and position itself for future growth.
“This project, an ideal addition to our solar portfolio in California, underscores our ability to bring good projects online through our partnership focus and flexibility when it comes to financing,” said Scott Wiater, president and CEO, Standard Solar. “We believe in the future of this area and were willing to fund this project up-front in order to give the district the financial stability it needs to prosper.”
The Humboldt Bay Harbor District in Northern California along U.S. Route 101 is the second-largest natural bay in the state and one of California’s most pristine estuarine environments. Expected to annually produce approximately 882,000 kilowatts hours and offset the greenhouse gas emissions from 141 passenger vehicles driven for one year, this project reflects the area’s focus on sustainability.
“This is a great opportunity for the Humboldt Bay Harbor District to provide a sustainable future that directly benefits the district financially. Working with Standard Solar is a true win-win for us,” said Larry Oetker, Executive Director of Humboldt Bay Harbor, Recreation and Conservation District.
The solar array, financed through a 25-year power purchase agreement (PPA), is installed on a property that is an industrial space and decommissioned power plant that has been repurposed for development capabilities.