Irvine, CA (PRWEB) June 17, 2008
Solar Monkey™, a national solar energy systems provider, today announced that it will be retrofitting 650,000 sq ft of the Robison Family Trust portfolio to accommodate rooftop solar electricity generation. Preliminary engineering has sized the systems to total approximately 3MW - the equivalent of approximately 750 residential solar systems - and the project will be completed in 2008 and 2009.
The trust has selected buildings from its portfolio that meet Solar Monkey's criteria for solar installations. Buildings included are 20,000 sq ft and larger and no more than 4 stories tall. The locations specified under the agreement are within Alameda and Contra Costa Counties.
The photovoltaic solar systems and the electricity they generate will be developed through a Power Purchase Agreement (PPA) between the Robison Family Trust and Solar Monkey. Under the PPA Solar Monkey will finance, design, build and maintain the solar energy projects and provide all the energy generated, at rates lower than utility, to the Robison Family Trust for a period of 25 years with no initial capital outlay from the trust.
Robison family trustee, Clair Robison, was a pioneering early adopter of solar for personal use as early as the 1970's. "We evaluated many solar providers and found Solar Monkey's approach was unique. They made our solar energy program a smart business decision for our commercial properties and are integrating energy efficiency and LEED programs as well. Their innovative financial approach, which eliminates the capital barriers to installing solar, will provide us with 25 years of financial and environmental benefits," said Robison.
Installation of solar energy can help buildings qualify for certification under the U.S. Green Building Council's LEED certification as well as the ENERGY STAR program administered by the EPA and U.S. Department of Energy. Solar Monkey provides LEED certification evaluation and planning as a part of its services, which has been shown to augment property valuations.
"Urban commercial and solar roofs are one of our great untapped energy resources. We're implementing the original vision of Thomas Edison - power produced and used locally" stated Matt McCullough, CEO of Solar Monkey. "We have worked extremely hard to build a creative solution that adds value to our clients' property portfolios and eliminates the financial barriers that typically inhibit most investors from installing solar. We will continue to provide large portfolio property owners and institutions with creative solutions which will bring solar power to them in a cost effective manner."
About Solar Monkey™
Solar Monkey is based in Irvine, California and offers solar power solutions to commercial and industrial property owners and public entities throughout the United States. Further information on Solar Monkey and the ways in which Solar Monkey makes it easy and intelligent to go solar is available at http://www.solarmonkey.net.
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