Main Street Power Company Receives Honorable Mention Award for San Diego Unified School District Solar Project
The SDUSD project involved installing solar photovoltaic (PV) systems with an aggregate generation capacity of 2.873 megawatts of alternating current (MWac), mounted on more than 100 rooftops across 31 sites in San Diego, CA.
Boulder, CO---On April 24, 2014, The San Diego Unified School District (SDUSD) solar project, developed and owned by Main Street Power Company, Inc. ("Main Street Power"), was recognized with an honorable mention in the inaugural Novogradac Journal of Tax Credits' Renewable Energy Power Awards at the Financing Renewable Energy Conference in San Francisco, CA. The SDUSD solar project received the honorable mention in the "Overcoming Obstacles" category as an example of how Main Street Power made use of innovative tax credit solutions to finance the 31-site solar project.
The SDUSD project involved installing solar photovoltaic (PV) systems with an aggregate generation capacity of 2.873 megawatts of alternating current (MWac), mounted on more than 100 rooftops across 31 sites in San Diego, CA. The solar arrays will offset approximately 20 to 40 percent of each building's electricity usage. All 31 of the sites used the Section 1603 grant program and 25 also used new markets tax credit (NMTC) financing. One of the most significant achievements of this project was the partnership Main Street Power initiated with California's Division of State Architects (DSA) to create a statewide design criteria and approval process for all future rooftop solar projects on public K-12 sites.
"The San Diego project is one we're most proud of, so we're pleased to be recognized by Novogradac for our efforts to overcome industry obstacles that can stall or kill valuable solar projects," said Eric Hinckley, SVP & CTO of Main Street Power. "To know we've helped pave the way for our industry peers to develop rooftop solar on California schools is really gratifying."
The Renewable Energy Power Awards were presented to development teams involved with effective and innovative renewable energy tax credit projects that created jobs, provided positive community impact and reduced energy footprints. Developments eligible for consideration used the federal renewable energy investment tax credit (ITC), the federal renewable energy production tax credit (PTC) and/or Section 1603 cash grant funds. Awardees were recognized in three categories: financial innovation, overcoming obstacles and small community project. Access full descriptions of the nine developments recognized at the Renewable Energy Power Awards.