Companies partner to finance and install commercial solar energy systems for businesses, non-profits, and schools across the state
Hopkinton, MA – October 14, 2015– Solect Energy, a leading commercial solar development and installation company in Massachusetts, and IGS Solar, an affiliate company of one of the largest independent energy suppliers in the United States, have partnered to bring no-cost solar energy solutions to businesses and organizations across the state. The partnership will provide more affordable financing options for companies seeking solar energy solutions by making power purchase agreements (PPAs) available to potential customers interested in using clean, renewable energy without incurring the capital expense and equipment responsibility.
“We are very excited about working with IGS to provide more affordable solar energy solutions to customers across Massachusetts,” said Craig Huntley, Partner and Chief Development Officer of Solect Energy. Our partnership with IGS will allow us to offer additional financing options for companies and organizations seeking commercial-scale solar installations throughout the Commonwealth. This collaboration will also allow dozens of businesses, organizations and schools to take advantage of solar without the costs and liabilities associated with owning a system.”
Solect Energy and IGS Solar have kicked-off their partnership with the installation of three large commercial-scale rooftop solar energy systems; a 457 kilowatt (kW) system for Mass Tank Sales Corporation’s manufacturing facility in Middleborough, MA, a 363.5 kW system on the roof of The Cotting School located in Lexington, MA, and a 353 kW rooftop system on the Tony Kent Arena in South Dennis, MA which is scheduled to be installed this month. Under the PPA model, Mass Tank, The Cotting School, and Tony Kent Arena will enter a financial agreement with Solect and IGS, under which Solect and IGS will lease the roof or ground space used, own and maintain the systems, and sell the solar electricity generated back to these organizations at a significantly reduced rate. Solect and IGS aim to provide more than 10 MW of installed solar projects under power purchase agreements similar to these projects.
