Mage Solar today announced the completion of a 1.12MW system for Martin Limestone Inc., a construction materials supplier providing aggregates, hot-mix asphalt, paving, and concrete products from plants in several locations throughout Pennsylvania (US).
For its New Holland facility, Martin Limestone opted for a renewable energy system that would give it a long-term financial advantage. The site is home to a block and ready-mix manufacturing plant as well as warehouses, stores and offices.
Rather than investing in and securing financing for a solar system that would cover nearly 50% of the energy needs for the New Holland Concrete facility, the company chose to engage in a power purchase agreement (PPA) with Sunstream Energy.
Sunstream Energy, a sister company of Paradise Energy, is leasing five acres of land on New Holland Concrete’s property where it has installed the 1.12MW solar farm. In return, Sunstream Energy sells the generated electricity to New Holland Concrete under a 25-year fixed rate.
The 4,480 Mage Powertec Plus modules are mounted on eight rows of ground mounts and are expected to generate 1.5 million kWh annually. Paradise Energy built the system in four months, and will continue to monitor it for optimal maximum power production.
Since the Mage Powertec Plus modules are warranted to produce 0 to +5 W tolerances only, the system is engineered to generate the highest energy yields possible. Additionally Mage Solar has a 30-year 80% power output guarantee.
Financing for the system was made possible in part by the US Department of Treasury’s 1603 grant program, which covered 30% of the project costs, as well as favorable bonus depreciation rules for solar energy systems. The system was commenced at the end of December 2012.
