The MoveIt® Companies have announced they have signed a contract with Shell Rock, Iowa-based Current RE to install an 80 kW (DC) Photovoltaic (PV) system at MoveIt® Headquarters in Breda, IA.
At their May meeting, the Breda City Council passed the cities first net metering interconnection policy guidelines that will allow commercial municipal utility customers to offset their annual electricity billing with up to an 80 kW capable system. “We are very grateful to the Breda City Council for their forward-thinking initiative”, Todd Partridge, Vice President of The MoveIt® Companies said. “Breda has always been a progressive community, and this prepares the city to take advantage of rapidly growing alternative energy economies.”
The municipal interconnection agreement, known as “net metering” allows the produced solar energy, which exceeds the customers demand to be sent back to the utility. The benefit to the city is that the solar energy is generated most when demand is highest, in the hot summer months when air conditioning systems are working hardest, potentially reducing the peak demand and lowering the city’s peak rates. According to Elizabeth Partridge Blessington, MoveIt CFO, “This is new territory for Breda, and we are excited to be working with the city to make sure this project benefits everyone.”
Ground-breaking for the 140 by 60-foot grid is expected sometime in July or August, after all of the permits and inspections are completed. The system will be comprised of 720 CAT (Caterpillar, Inc.) 115 watt panels. Each panel is 24 x 48 inches and weighs 26 lbs. The solar panel array will be free-standing, pole mounted, South East of the MoveIt building.
The MoveIt® project will take advantage of an accelerated 85% depreciation over 5 years as well as a Federal Business Energy Investment Tax Credit (ITC) of 30% and a 15% State of Iowa tax credit. “We are looking at breaking even at around 7 years.” Todd Partridge said. He added, “Even without the tax credits solar is now a generally viable option. It is good for the local economies, as it cuts energy expenses for customers, employs local contractors for construction and maintenance, and with favorably negotiated contracts, can save the municipal utility money. Plus, the efficiency of photo voltaic cells is improving at a rate of around 1.5% per year and battery technology isn’t far behind.”
The MoveIt® Companies began in Breda, IA in 1979 and provide specialized logistics services for shippers of high value, sensitive and difficult to move items all over the world.