Making PV solar arrays commercially profitable at an affordable size requires cutting the total project cost quite a bit. We have developed an array design and a business method that will make a 500 kW array profitable in Year 1. These arrays can be built virtually anywhere that approximately 2 acres of space is available, either on the ground, on rooftops or on land that is otherwise unusable (li
ke an old landfill for instance). Our project cost and size are appropriate for Municipalities, economic development groups, entrepreneurs, or business cooperatives to develop. We strongly believe that once our Pilot Project has proven our business model, commercial arrays of this size will spring up around Maine and the USA due to high demand from potential customers. Why will there be such high demand? For three reasons. We save our customers money on their electric bills for up to 40 years, our facility keeps money circulating in the local economy instead of sending it elsewhere, and communities as well as investors reap large benefits from building such a facility. Our calculations and projections have been vetted by several professional engineers, accountants and renewable energy project veterans. Now we just have to build the Pilot Project to show the rest of the world what our Model can do. We will be gathering the funds for construction in 2014 and looking to begin construction either in the Fall of 2014 or the Spring of 2015. Our funding will consist of approximately 42% private investment, 37% loan and 21% grants. Once our Model is proven, we expect project cost to drop enough that no grants would be needed to fund the next array. Private investment IRR is 14 - 20% depending on the investor's tax bracket, full payout within 6 years. Investors will be repaid by receiving ITC tax credits and MACRS tax deductions. For more information, please email [email protected]
