REA worked with Cyanotech Corporation, a global producer of microalgae nutritional supplements, for a 2,280 panel array on Cyanotech’s 90-acre microalgae farm. The energy production is sufficient to power the entire farm’s production during daylight hours, and will reduce Cyanotech’s electricity costs by 10 percent. “Environmental stewardship is a key tenet of Cyanotech’s corporate mission,” said Gerry Cysewski, PhD., Chief Science Officer, Executive Vice President and Co-Founder of Cyanotech. “We are currently able to keep our carbon footprint down because our microalgae use carbon dioxide. The solar array will further reduce our greenhouse emissions and costs making it a win-win for our bottom line and the environment.”
REA partnered with Cyanotech to deliver
a 2,280 solar panel array, reducing green house emissions and energy costs.
Maui, Hawaii - Utility Project
The Owens PV project holds a 20-year, plus additional year options, power purchase agreement (PPA) with Maui Electric Company (MECO). The PPA includes a requirement for MECO to purchase 100% of the power at $0.238 per kilowatt hour.
The Owens project was established under a Feed In Tariff (FIT) program issued by MECO and awarded to Neighborhood Power Corporation (NPC). The program is designed to encourage the addition of more renewable energy projects in Hawaii. Pre-established FIT rates and standardized FIT contract terms provide an easy way for individuals, small businesses, governmental entities, or other developers to sell renewable energy to Maui Electric.
REA helped build a
414 kw project and arrange for Maui Electric Company to purchase the power.
Generating Power at Home
Homeowners across the country are plugging into solar energy to reduce electric bills and actually earn credits for electricity that is fed back to the utility company. Today, more than 40 states allow property owners to sell excess energy generated by solar panels onto the electric grid, and many utilities must pay a premium for this resource. Analysts predict that in just five years solar installations will account for roughly 1.5 percent of global energy demand. REA offers programs to help homeowners take advantage of this affordable solar energy revolution.