About the Project:
Meadowbrook Stables will use solar energy to help reduce its carbon footprint and help mitigate greenhouse gases. Installing the solar PV system will produce more than 154,000 kilowatt hours per year of clean, renewable energy for the Meadowbrook Stables and will lower greenhouse gas emissions by 2,087 metric tons of carbon dioxide over the first 20 years of usage. These energy savings will lead to a projected savings of $98,595 throughout the first 20 years in reduced electricity bills.
The total project cost of $250,000 will be financed through a 20-year power purchase agreement between Skyview Ventures and Meadowbrook Stables. Meadowbrook Stables signed a Power Purchase Agreement, or “PPA,” with the owner and developer of the solar system, Skyview Ventures. The selected solar installer, Ipsun Solar, is under an Equipment, Procurement, and Construction (EPC) agreement with Skyview Ventures for the installation of the solar PV system.
Montgomery County Green Bank’s Role
The CSPPA program developed by the Montgomery County Green Bank allowed Meadowbrook Stables to install solar and experience the benefits of solar with no out-of-pocket costs through a power purchase agreement with Skyview Ventures.
Meadowbrook Stables, owned by the nonprofit Meadowbrook Foundation Inc., is an indoor equestrian riding arena in Chevy Chase, MD.
Property Upgrade Summary:
Installation of a 113.52 kW rooftop solar PV system by Ipsun Solar.
The loan from the Green Bank to Skyview Ventures totaled $250,000 towards a Commercial Solar Power Purchase Agreement (CSPPA).