Colorado State University is working with Xcel Energy and renewable energy developer, Renewable Ventures, a Fotowatio company, in an innovative public-private partnership, to leverage tax credits and incentives to finance the Foothills Campus solar power system.
The 15-acre solar array is expected to be finished by the end of 2009, as part of the Xcel Energy Solar Rewards program. In exchange for hosting the solar panels, Colorado State locked in a 20-year contract with for solar power to keep costs low during volatile energy markets with rising electricity costs.
Xcel Energy signed an agreement with Renewable Ventures to purchase the renewable energy credits associated with the power being produced. At the end of the 20-year term, the university has an option to purchase the solar panels.
This partnership will enable the university to deploy the solar array under a long-term electricity contract with Renewable Ventures, known as a Power Purchase Agreement. Colorado State University will provide the land under a long-term lease and will purchase the power produced from the solar array at a fixed rate for 20 years.
Through the Request for Proposal portion of its Solar Rewards program, Xcel Energy solicits bids for solar installations to meet the solar energy mandates of the Colorado Renewable Energy Standard.
AMEC, an international engineering and project management company, will construct the solar array, which will be located just east of the city of Fort Collins water treatment plant. They will work with Brian Chase, director of facilities at Colorado State, throughout the construction process on the solar power tracking system.
The university recently added a biomass boiler on the Foothills Campus to reduce the university’s greenhouse gas emissions and cut energy costs. The heating plant will burn wood chips rather than rely solely on natural gas to provide hot water for the Judson M. Harper Research Complex.
CSU also recently added solar panels on the roof of the Engineering Building. Similar projects are planned on two buildings that are under construction: the Academic Instruction Building, just south of the Clark Building, and the parking garage at Centre Avenue and Prospect Road.
It’s the second solar project to be announced within the Colorado State University System. CSU-Pueblo dedicated a new 1.2MW solar array in 2008.