CPS Energy selects PowerFin as Provider of Innovative Rooftop Program
PowerFin Partners, a solar development firm based in Austin and San Antonio, today announced SolarHostÂ TM, a groundbreaking pilot program withÂ CPS EnergyÂ 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 five 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 pre-enroll intoÂ the program by going toÂ www.solarhostsa.com.
â€œSolarHost 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,â€ saidÂ Cris Eugster, Group Executive Vice President, Chief Generation and Strategy Officer.
â€œWe are excited to provide affordable and reliable on-site electricity to CPS Energyâ€™s customers through this innovative program,â€ said Jason Pittman, PowerFinâ€™s Vice President of Development. â€œPowerFin is coordinating with CPS Energy and the local solar installer community to seamlessly integrate this new solar option into the existing grid.â€
Through SolarHostÂ TM, qualified residential, commercial, or non-profit electric customers of CPS Energy can apply to have solar systems installed on their rooftop.Â Bill credits will be awarded at the rate of $0.03 per kilowatt hour produced by the panels for 20 years.Â PowerFin will pay all costs for installation and maintenance.
The innovative program complements CPS Energy andÂ Clean Energy Collectiveâ€™sÂ Â Roofless Community SolarÂ program announced in July.Â Together, the programs make participation in solar energy more accessible, affordable, and available to a much broader base of the community than ever before.
About PowerFin Partners
Since its founding in 2007, PowerFin Partners, LLC has completed more than $150 million in small utility-scale, grid-tied solar projects. Based in Austin and San Antonio, PowerFin focuses on providing affordable and reliable solar energy to utilities and their customers in Texas. PowerFinâ€™s team brings significant experience in energy finance, regulatory affairs, and renewable generation to the ongoing development and operation of these projects.Â www.powerfinpartners.com
About CPS Energy
CPS Energy is the nationâ€™s largest municipally owned natural gas and electric company, providing service to 772,000 electric and 337,000 natural gas customers in the Greater San Antonio area. With our AA+ credit rating, one of the best in the industry, we offer best in class reliability and the lowest rates among the top 10 largest U.S. cities. We recognize our role as a community partner and are continuously focused on job creation, economic development and educational investment. Powered by our people, our investment in the community is demonstrated through our employeesâ€™ generosity in giving $1 million to United Way. We are also committed to investing in clean energy. CPS Energy is the number one wind energy buyer among the nationâ€™s municipally owned utilities and number one in Texas for solar generation. For more information, visitÂ newsroom.cpsenergy.com.