Holu also to arrange solar water heater PPA for Honolulu apartment building
EnSync Energy Systems, a leading developer of innovative distributed energy resources (DERs), announced that its Hawaiian-based subsidiary, Holu Energy LLC, signed a 20-year power purchase agreement (PPA) for a photovoltaic system for Nuuanu Terrace, an apartment building in Honolulu containing three dozen units.
"Much like the rest of the state, we see the benefits of shifting more of our energy consumption to renewables," said Delaine Sylvester, president of the Board of Nuuanu Terrace. "Installing solar and other renewable energy infrastructure can sometimes be prohibitively expensive, but this affordable PPA enables us to go green, which pleases both current and potential residents," she added.
Along with the photovoltaic system, Holu and Nuuanu Terrace plan to finalize by the end of 2017 a PPA to install a 24-panel solar water heater. The heater will replace the previous gas-powered electric heat pump system. Water heating is highly energy intensive, making up the second largest use of electricity in the residential sector. Solar water heating provides a cost-competitive, clean energy alternative.
"Our partnership with Nuuanu showcases the variety of tailored clean energy technologies that Holu Energy can integrate and deploy both in residential and commercial contexts," said Ted Peck, CEO of Holu. "It's the latest example of the custom solutions that we deliver to our customers in Hawaii."
The Nuuanu solar project builds on Holu and EnSync Energy's momentum in Hawaii as a leading distributed energy resources provider. EnSync Energy has announced 22 contracted commercial projects in the state, which will account for more than $20 million in electricity sales over the terms of the agreements.