California, United States [RenewableEnergyWorld.com] Borrego Solar Systems Inc. and Bank of America announced that Stone Brewing Co. in Escondido, California, has installed a 312 kilowatt (kW) solar electric system at its brewing facility in the Escondido Research & Technology Center (ERTC). The system represents an investment of US $2.5 million.
Stone‘s system consists of 1,561 roof-mounted solar modules, placing it in the top 12 percent of solar energy systems in California in terms of size. The system will supply up to 43 percent of the brewery’s energy needs. Over its lifetime, the system could save Stone more than US $3 million in electricity costs and it is expected to pay for itself in five years. Bank of America structured a 10-year lease purchase that maximized the available federal solar investment tax credits, utility incentive payments and the reduction in electricity bills to provide the US $2.5 million in financing for the project as part of its US $20 billion environmental initiative.
“As Borrego continues to help solve the world’s energy problems, the ongoing commitment from forward-thinking companies like Stone Brewing Co. is vital to secure the accelerated adoption of solar energy,” said Aaron Hall, CEO of Borrego Solar Systems. “We are honored to have been selected by Stone to design and install the company’s solar electric system. The array we designed for Stone uses the most efficient technologies available, ensuring the consistent production of renewable energy — and reinforcing Stone’s commitment to environmental sustainability — for years to come.”