Renewvia Energy Completes Covered Parking System in Arizona

The grid-connected PV solar electrical system is currently providing 25 percent of power to the 300-unit apartment complex, resulting in a 50 percent savings on the complex’s power bills. The project covered a total of 15,000 square feet atop the parking canopies of the apartment buildings and featured 1,004 high efficiency solar panels manufactured by Suntech. Summit Equity Investments is owner of the system and apartment complex.

The solar power facility is expected to generate more than 450,000 kWh annually and Summit Equity expects to save at least $ 50,000 per year, not including utility and tax benefits. As far as the environmental perspective, the solar power plant’s carbon dioxide offset, a reduction in emissions of carbon dioxide or greenhouse gases, annually is expected to total 248 tons and over a 25 year period will reach 5,593 tons. That is the equivalent of annually removing 48 automobiles from the road or 546,691 miles not driven, and equal to planting 59 acres of pine trees.

“We are excited on the quick delivery of the Renewvia Energy solar power plant and are already seeing the benefits to the bottom-line and sustainability we expect to achieve with this system,” said Ryan Lynch, CEO of Summit Equity investments. “This solar power system will not only drive real savings but enhance our ability to market the complex and increase the resale value or our property. The solar facility also shows our strong commitment to environmental sustainability at our properties and we look forward to working with Renewvia again in the near future. We continue to strive to reduce our carbon footprint and we saw a golden opportunity to do that given the ideal conditions in harnessing the power of Arizona’s sun.”

“We are very pleased to work with Summit Equity Investments and to bring another successful solar power plant to completion that helps them realize the economic benefits available through the SRP solar program” said Trey Jarrard, founder and president of Renewvia Energy. “This project is another ideal example of the compelling sustainability and business benefits offered by Renewvia Energy’s developments.”