About the Project:
The solar PV system consists of 49 Hanwa 320 Watt solar modules 15.68 kW with 49 Enphase IQ7-60-x-US microinverters and the state-of-the art Enphase remote monitoring platform.
Solar PV systems use a multitude of photovoltaic cells to convert sunlight into electricity. When light shines on the PV cell, the components move rapidly and create electricity; and stronger sunlight creates more electricity. The energy that is created flows through wiring connected to the panels to an inverter or inverters, which change the energy from direct current to alternating current, which is the type of current used in homes and buildings. The energy from the inverter is connected to an electric fuse box or a dedicated set of breakers to power whatever appliances or electric loads are pulling electricity when the solar energy comes through. In most cases, the building will use the energy from the solar system primarily before using electricity from the utility grid. Any solar energy that the building does not need at the time will be send back to the utility grid and metered as negative usage for billing credits.
Montgomery County Green Bank’s Role
Montgomery County Green Bank worked with the resident to offer the Renewable Energy Financing program loan to cover 74% of project costs to help finance the project.
Single-family, two story detached home located in Kensington, Maryland
Property Upgrade Summary:
13.47kW Solar PV system
Residential Loan with the Renewable Energy Financing program through the Clean Energy Credit Union and backed by Montgomery County Green Bank. Loan covered 74% of project costs to help finance the project. The owner will access federal income tax credits for about 26% of the solar project costs.
Montgomery County Green Bank is currently assisting many more customers in the County’s solar co-op program using the Green Bank’s Renewable Energy Financing program.
The Renewable Energy Financing program provides 100% financing for renewable energy and energy efficiency projects in Montgomery County with competitive rates.