The ground-mounted, 500-kilowatt system can produce 725,000 kilowatt-hours of energy per year, according to a press release from the university. It is the largest array on campus and CU’s first ground-mounted system.
The array was developed and built by Panasonic Eco Solutions North America with local support from Boulder-based Lighthouse Solar Inc., the release said. Financing was provided by a combination of Colorado Amendment 37 rebates and incentives via Xcel Energy Inc. (NYSE: XEL), as well as federal tax credits and third-party financing.
CU-Boulder will be able to purchase the panels in seven years and will be able to sell power back to Xcel Energy.
In total, panels on the CU-Boulder campus generate about 1,000 kilowatt-hours of energy, which is enough to power about 200 average-size houses.