$8 Million Worth of Solar Projects Slated for Several Virginia Counties

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by | May 6, 2020

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Secure Futures Solar has signed an agreement with City National Bank to provide a total of $8 million in loan financing to cover the construction of Virginia solar projects at Augusta County Schools, Orange County Schools, and at the CARITAS center in Richmond.

Augusta County Schools previously received 1.8 megawatts of solar panels on seven school campuses in 2019. Now, five additional campuses will receive a total of nearly two megawatts of solar arrays.

At Orange County Schools, 2.5 megawatts of solar arrays will be installed on eight campuses. In each school system, roofs will be restored on three campuses to make them solar-ready prior to installing solar arrays.

Finally, the CARITAS center in Richmond, currently under construction, will receive 472 kilowatts of solar arrays. Once completed, CARITAS will host the largest solar energy system of any facility offering services to homeless people in Virginia.

Secure Futures will complete all three solar projects at no upfront capital cost to customers through a power purchase agreement, a financing system that Secure Futures introduced to Virginia in 2011. For the two school divisions, the cost of roof restoration is included in monthly payments for solar power, eliminating the capital expense of making roof repairs that were required regardless of whether the roofs would host solar panels or not.

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