New solar power financing plan comes to San Antonio
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Residents of San Antonio join those in Austin that can use a power purchase agreement to host a solar power system on their rooftop.
PowerFin Partners, a solar development firm based in Austin and San Antonio revealed SolarHost, a pilot program with CPS Energy that will allow participants to host photovoltaic systems on their rooftops in exchange for credits on their energy bill.
Working under a power purchase agreement with CPS Energy, PowerFin will install and operate ten megawatts (AC) of rooftop solar on homes and businesses throughout the CPS Energy service territory, offering the community the chance to realize the benefits of local solar at no cost to them. Interested CPS Energy customers can sign up to join the program by going to www.solarhostsa.com.
"SolarHost makes solar available to a much larger cross-section of our community by removing the upfront cost for the customer and in fact creating an income stream for them," said Cris Eugster, group executive vice president, chief generation and strategy officer.
"We are excited to provide affordable and reliable on-site electricity to CPS Energy's customers through this innovative program," said Jason Pittman, PowerFin's vice president of development. "PowerFin is coordinating with CPS Energy and the local solar installer community to seamlessly integrate this new solar option into the existing grid."
Through SolarHost, qualified residential, commercial, or non-profit electric customers of CPS Energy can apply to have solar systems installed on their rooftop. Bill credits will be awarded at the rate of $0.03 per kilowatt-hour produced by the panels for 20 years. PowerFin will pay all costs for installation and maintenance.
The innovative program makes participation in solar energy more accessible, affordable, and available to a much broader base of the community than ever before.
Read more about home solar power.