Healthcare Facilities Cut Costs with Solar Energy
Healthcare facilities across the country are facing declining budgets due to factors that include reimbursement policies and a difficult economic environment. But one provider said it found savings in an unexpected place: a solar array that is expected to save a minimum of $700,000 over 20 years.
Presbyterian Senior Living (PSL) studied financing options and chose a power purchase agreement (PPA), and selected a location for a solar array. However, the project lacked numerous key components to ensure its success so ABM was enlisted. Under a tight execution deadline, ABM helped PSL execute the project through:
- Providing bankable solar Engineering, Procurement and Contracting (EPC) services of a 4,150 panel array across 6.5 acres
- Re-design and value engineering of the solar array to bring costs down and increase power production
- A financial solution to make the project feasible – including tax equity and SREC off-taker. The project takes advantage of Maryland’s alternative energy targets supported through tax credits and depreciation.
- Operations and Maintenance for the plant upon completion
The system, which is the largest solar array in the Baltimore metropolitan area, is designed to significantly reduce PSL’s energy spend through fixed, low-cost rates over the life of a 20-year agreement. The system is expected to save PSL a minimum $700,000.
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