Solar Panels Going Up in 1.76MW Project at Springfield Service Center
SPRINGFIELD, Ohio, Sept. 26, 2012 – Construction has begun on a new $7 million solar installation to supply clean energy at the office campus of Assurant Specialty Property, one of Springfield's largest employers.
Crews will install more than 6,200 solar panels on the roof at Assurant's campus off East Leffel Lane, as well as atop 15 new solar carports in the parking area. Once completed, the 1.76 megawatt project is planned to produce more than 1.9 million kilowatt hours of solar power each year -- making it the Springfield-Dayton area's largest solar installation.
"By generating much of the electricity we use, this project will help control our electric costs for years to come," said Ray Rafferty, vice president for Assurant Specialty Property's Springfield Service Center. "At the same time, we are demonstrating our commitment to environmentally responsible business practices, and reducing greenhouse gases."
The solar power to be produced at Assurant Specialty Property in Springfield translates to a reduction of more than 1,400 tons of CO2, or the equivalent of planting more than 33,000 trees, or more than 280 acres of pine forest.
Assurant Specialty Property is a part of Assurant, Inc., a premier provider of specialty insurance. The project, the first of its kind at an Assurant facility, will benefit the environment and further expand the company's expertise in the solar industry. Assurant has launched the nation's first specialized, bundled insurance program for commercial-scale solar installations, and will be insuring the solar project at its center in Springfield.
Under a 20-year power purchase agreement, Assurant will purchase energy generated by the array, at a discount to retail rates. The system's performance will be monitored and managed using Tangent AMP, a proprietary technology platform that dynamically balances the interaction between on-site generation resources, facility energy systems and the power grid to enhance customers' energy economics.
The project is owned by Laurel Capital Partners with funding provided by First Niagara Bank. Tangent Energy will operate the array.
Construction is by Third Sun Solar, a leading solar energy installer based in Athens, Ohio.
"Assurant is growing our expertise in solar energy, both as an insurer and an end user," Rafferty said. "As a company, we believe this is an exciting growth area, and here in Springfield, we're proud to be on the cutting edge of the company's solar initiatives. This is a sign of our commitment to working in the industry."
Construction is expected to be completed this winter. Assurant Specialty Property employs approximately 1,900 at the Springfield campus.
About Assurant Specialty Property
Assurant Specialty Property is a leading provider of insurance services in partnership with financial institutions, mortgage lenders, manufactured home sellers, auto finance companies, property managers and their customers. Services include insurance tracking and management, lender-placed homeowners insurance, and property and personal coverage such as renters, farm and flood insurance.
Assurant Specialty Property is part of Assurant, a premier provider of specialized insurance products and related services in North America and select worldwide markets. Assurant, a Fortune 500 company and a member of the S&P 500, is traded on the New York Stock Exchange under the symbol AIZ. http://www.assurant.com/.
About Tangent Energy Solutions
Tangent Energy Solutions reverses the traditional utility- driven approach to developing the smart grid by partnering with commercial and industrial customers to optimize the "grid behind the meter." By providing clean energy assets and technologies at no capital cost, Tangent saves C&I energy customers 20%+ while increasing the amount of renewable content in their supply. Tangent actively manages on-site assets to decrease a customer's reliance on grid-sourced energy, especially during peak demand periods. Tangent was founded in 2009 by a management team that has been providing commercially successful energy innovations to mainstream C&I customers for 30 years. www.tangentenergy.com
About Third Sun Solar
Based in Athens, Ohio, Third Sun Solar is a fast-growing design/build solar firm serving Ohio and the surrounding states. An Inc. 5000 company in 2009, 2010 and 2011, Third Sun Solar is at the forefront of the emerging clean energy industry – a growing resource for 21st-century Ohio jobs. For more than a decade, the company has custom designed and installed over 300 solar energy systems for its commercial, institutional, government, and residential customers across the Midwest. Third Sun Solar employs a team of NABCEP-certified solar energy system installers along with design engineers, financial analysts, grant specialists, and support staff, all focused on making it easier for customers to go solar. www.third-sun.com