New Mexico Businesses Save with Solar

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Affordable Solar announces the completion of solar electric systems for three Albuquerque businesses. Combined, the three businesses will save at least $1,057,556 in avoided energy costs over the life of the systems.

 

Despite its abundant sun, New Mexico hasn’t been making an appearance in the list of top solar states. And while glimmers of light are shining here and there for solar in the state, New Mexico solar has also had its share of hurdles.

But we’re starting to see more stories about solar developments in New Mexico. Some are from Affordable Solar, a company based in Albuquerque that provides solar project design, project development, construction, product distribution, and solar integrator support. The company recently announced a financing partnership in New Mexico with Sol Systems, to streamline financing for distributed solar energy projects. And today, Affordable Solar announced the completion of three commercial solar arrays for businesses in the Albuquerque metro area.

Each project is a solar electric array that will generate electricity for the property owners and save them money on their power bills. That translates into higher value for the properties in addition to savings from Day 1.

The Center for BioScience, a business incubator in Albuquerque, now benefits from a 25.5 kW DC solar electric array. The system consists of 126 Canadian Solar 245-watt panels, mounted on Albuquerque-made Unirac mounting equipment. In the first full year of operation, the system will save Center for BioScience $5,640. Over a 25-year period, the center will see a total savings of $142,028 in avoided energy costs.

Goodmans Interior Structures, an office furniture dealership, recently flipped the switch for a new 30 kW DC solar electric array on their Albuquerque showroom, consisting of 100 Canadian Solar 285-watt panels and a Unirac roof-mount racking system. Their energy savings after the first year will come to $9,571. Over 25 years, the system will save the company nearly $400,000. The purchase of this system combined with the avoided energy costs and renewable energy credits paid by Public Service Company of New Mexico (PNM) provides the business 19% cash-on-cash return.

Autry Plaza, a multi-unit office building, now boasts a 30 kW DC solar array consisting of 100 Canadian Solar 300-watt panels, also using locally produced Unirac roof-mount racking. The estimated savings after year one is $8,330, and the savings over 25 years should total $261,316.  Attorney Will Ferguson, owner of Autry Plaza, said, “The process was quick, painless and professional. I’m pleased with the installation and the prospects for the project going forward. The revised economics will be transformational for our older, but still desirable building.”

Each building is feeding renewable energy back into the grid, adding to PNM’s environmental portfolio and helping create a cleaner future for Albuquerque. Combined, the three businesses will save at least $1,057,556 in avoided energy costs.

Let’s hope this is a sign of things to come in New Mexico.