Project Description:
Hormel's project is comprised of 2,016 - 365W JA Solar modules in a combined roof and ground mount application that is projected to produce over 1,210.5 megawatt hours in its first year of operation. The system is unique, utilizing all available space on the roof and an adjacent vacant plot of land to maximize system production. HOLT Renewables used a popular solar financing tool, a Power Purchase Agreement, to provide economic value and savings. The financing arrangements include a 25-year term, 0% escalator, totalling over $4,000,000 in energy savings over the life of the project. This project qualified for a 30% Investment Tax Credit as well as other federal and local incentives and highlights the continued viability and value of solar projects throughout California.
