Cabot has signed an agreement with SunPower to supply and install a 1.12MW solar project paired with a 470kW/940KWh integrated energy storage system at Cabot's Business and Technology Center in Billerica, Massachusetts.
This commitment is a first for Cabot and will contribute to its long-term sustainability efforts by helping to advance solar development in the state and meet Massachusetts’ renewable energy commitments.
Start of construction is targeted for summer next year. The integrated solar parking canopy project will feature high-efficiency SunPower solar panels installed across multiple solar parking canopies, and is expected to produce enough electricity to offset approximately 20% of the facility’s energy needs thereby reducing Cabot’s grid energy costs. The energy storage system installed with the project will provide additional savings by decreasing electricity demand charges during peak hours.
Cabot sustainability and regulatory affairs director Karen Rankin said: “At Cabot, we are committed to sustainability and recognize that renewable energy plays an important role in building a more sustainable future.
“We’re thrilled to bring this project to one of our main hubs for technology innovation, as this investment helps demonstrate the value of renewable energy while also delivering the added benefit of providing solar parking canopies and automobile charging stations for our employees.”
Cabot is financing the Helix solar-plus-storage project through a power purchase agreement (PPA) arranged by SunPower, allowing Cabot to buy power at competitive prices and hedge against future utility rate increases. The project will also be supported by the new Solar Massachusetts Renewable Target (SMART) Program which was established by Massachusetts Department of Energy Resources (DOER) to encourage development of solar in the state.
SunPower commercial americas executive vice president Nam Nguyen said: “We congratulate Cabot for investing in this innovative solar and storage project to help offset consumption of traditional energy sources in the company’s home state of Massachusetts.
“More corporations across the US are choosing solar to cost-effectively meet electricity demand, and SunPower’s complete Helix solar and storage solutions are designed to maximize value for these customers.”
Source: Company Press Release