Last week, Microgrid Solar and U. S. Bank reported that they would be financing solar installations to 56 St. Louis area nonprofits. This could include up to 120 PV systems. According to Microgrid CEO Rick Hunter, “The mass installation of solar systems is a first for the St. Louis region.”
These installations, projected to be completed by the end of the year, will add almost 3 MW of solar. Each installation will provide 25 KW, producing nearly 30,000 kWh of electricity per year. The utility bill savings for the nonprofits are projected in the tens of thousands of dollars annually. In fact, CEO Rick Hunter says that “this is a unique financing program that is really a first nationally, and which essentially provides solar to a nonprofit organization at zero budgetary cost.”
How is this possible? Through the U.S. Bancorp Community Development Corporation. The USBCDC is working with solar installation firms, community organizations, nonprofits, businesses, and homeowners to improve the local communities.
Dan Siegel, vice president of USBCDC, states, “Reliable solar is a great investment for businesses, communities, and financiers alike…. We’re proud to leverage our renewable energy expertise and support to create opportunities for sustainability in St. Louis.”
Mr. Hunter believes this project “will have a major impact, not only for the organizations, but for improving awareness and education around solar in the St. Louis area generally.”