Open Energy Corp., a renewable energy company focused on building-integrated photovoltaic solutions, has signed a development agreement with John DeWald & Associates to enable homeowners in the Pacific Station development in California to acquire rooftop solar power systems at no up-front cost.
Under the terms of this agreement, Open Energy will finance $480,000 and install 1.2 kW systems on each of the 47 condominium townhomes at the Pacific Station mixed-use residential and commercial development in exchange for the rights to sell a percentage of the solar electricity provided under a long term purchase agreement.
The Pacific Station project is slated to break ground this spring and will take about 18 months to complete. It will use approximately 130 Open Energy SolarSave membranes and is projected to provide over 1.5 million kWh of electricity over the life of the contract.
