Alliant Vitality begins development on Cedar Rapids neighborhood photo voltaic backyard

Alliant Vitality plans to construct a neighborhood photo voltaic backyard in Cedar Rapids, Iowa – its first within the state.

It’s a part of Alliant Vitality’s Neighborhood Photo voltaic program, which permits clients to profit from solar energy with out putting in photo voltaic panels on their property. Subscribers obtain month-to-month credit on electrical payments for each block of vitality bought. The credit will start as soon as the backyard is operational after which proceed for the 20-year lifetime of the challenge.

The Cedar Rapids backyard will include 18,000 photo voltaic blocks, with every 250-watt block producing an estimated common of 541 kilowatt-hours yearly.

“We’re excited for our Iowa clients to take pleasure in the advantages of unpolluted, renewable vitality,” Terry Kouba, president of Alliant Vitality’s Iowa vitality firm, mentioned. “We anticipate all blocks will likely be bought rapidly given the extent of curiosity we’ve gathered from our Iowa clients. The Neighborhood Photo voltaic program is only one extra manner we will use our information and assets to serve our clients whereas bringing them choices and options to satisfy their wants.”

Building on the 4.5 -megawatt challenge, situated north of the 1100 block of thirty third Avenue SW, started this summer season. It’s projected to be accomplished in late summer season 2023.

A number of companies are already , together with Transamerica and Aegon Asset Administration. The diversified insurance coverage and funding group has dedicated to buying 60 p.c of the backyard’s photo voltaic blocks and turning into the challenge’s anchor tenant.

“At Transamerica and Aegon AM, we now have embedded sustainability as a central pillar inside our firm technique,” Chris Thompson, US CEO at Aegon AM, mentioned. “Guided by our objective, we intention to positively affect society and the surroundings, and we’re dedicated to supporting the transition to a climate-resilient financial system and a net-zero world. A part of that transition is taking part in renewable vitality alternatives just like the Neighborhood Photo voltaic program in Cedar Rapids.”

Additional, Alliant Vitality will donate as much as $400,000 in photo voltaic blocks from the Cedar Rapids neighborhood photo voltaic backyard to Cedar Valley Habitat for Humanity owners.

“We recognize Alliant Vitality’s donation from its neighborhood photo voltaic challenge and willingness to help our efforts to assist native households,” Brittany Scanlon, govt director, Cedar Valley Habitat for Humanity, mentioned. “Alongside their reasonably priced Habitat mortgage, this partnership will additional empower Cedar Valley Habitat owners by way of financial savings on the price of their vitality payments. Taking away the pressures of staying housed and protecting the lights on permits our households to deal with alternatives to enhance their well being, transportation, schooling, employment, and extra.”

Over the 20-year lifetime of the backyard, Alliant Vitality will challenge as much as $600,000 in invoice credit to Habitat for Humanity’s taking part residents. That will convey the overall donation to an estimated $1 million.

Between the donation to Habitat for Humanity and Transamerica/Aegon, 66 p.c of photo voltaic blocks have been reserved. Greater than 6,000 photo voltaic blocks stay accessible for subscription. Enrollment within the challenge is open for Alliant Vitality’s Iowa electrical clients on a first-come, first-served foundation. Photo voltaic blocks are priced at $395 every.