A $9.5 million solar-panel installation is approaching completion at a commercial office and warehouse complex in Golden.
The complex’s owner, MIE Properties, hopes to supply electricity to its tenants from right on site, said Steve Rasmussen, an MIE regional partner. The system is already generating some electricity, he said.
MIE is planning a another solar project for a complex in Westminster at Walnut Creek.
The buildings are one-story flex units designed for office space, manufacturing and distribution.
Rasmussen estimated that about 83 percent of the investment will be be recouped in the first year through rebates from Xcel Energy and federal government grants.
“The remaining one-sixth that we still have out there will come back over a five-year period through the sale of the generated electricity to the tenants,” he said.
The sluggish economy has helped create a 12 percent vacancy rate, which is much higher than a couple of years ago, he said. Still, MIE will put solar systems on vacant units in expectation of future occupancy. The panels will cover 650,000 square feet of rooftop space.
Property manager Sean Ahrens said MIE would be in charge of billing the tenants, who will pay for the electricity the panels generate.
“The solar-generated electricity will supplant what otherwise would have been supplied by Xcel from fossil fuels,” Ahrens said.
Karen Groves: 303-954-2303 or grovesk@yourhub.com
