The rooftops of more than a dozen Denver public schools are set to be the platform for a $9 million solar-energy project, according to the district and its private partners.
Solar arrays of 100 kilowatts to 300 kilowatts will be installed on the roofs of 16 schools and generate 1.8 megawatts of electricity.
A megawatt is enough power for about 750 homes, according to Xcel Energy.
Under the agreement with Denver-based Oak Leaf Energy Partners and San Francisco-based MP2 Capital, the solar arrays will be privately financed and built.
Denver Public Schools will buy electricity at a price per kilowatt lower than that charged by Xcel Energy from MP2, which will own and operate the arrays, said John Hereford, Oak Leaf managing partner.
The school district will save about $1 million in energy costs over the 20-year power-purchase agreement, said David Suppes, the district’s chief operating officer.
“This is a green project that makes economic sense,” Suppes said.
The solar panels will be installed by Namaste Solar, based in Boulder, between March and November.
The funds for the $9 million project were raised from investors who could take advantage of the 30 percent federal tax credit or cash grant available for solar projects and the appreciation allowance for the solar equipment.
The developers also get revenue from the power-purchase agreement and from selling the project’s “renewable energy credits” to Xcel.
By purchasing such credits, Xcel can include the project in its renewable-energy portfolio.
State law requires Xcel to generate 20 percent of its energy from renewable sources by 2020.
Namaste and Oak Leaf also have developed a solar-energy curriculum for the schools as part of the project, Suppes said.
“Some of the schools are already pretty excited about their projects,” Suppes said.
The 16 schools were selected for their optimal solar and roof qualities and include Martin Luther King Middle School, Greenwood Elementary School, Manual High School and Green Valley Ranch High School.
