The Carondelet High School received $1.7M in C-PACE financing for the installation of a 720 kW solar array. This expansive carport and rooftop array will offset nearly 100% of the school’s annual energy usage and is expected to save The Carondelet High School over $150,000 each year on their electricity bills for the next 25 years.
Founded in 1965, Carondelet is a private all-girls college preparatory school located in Concord, CA on a 9.2 acre campus. Nuveen Green Capital provided the school with a C-PACE secured Power Purchase Agreement that helped Carondelet take advantage of the solar tax incentives given the school’s status as a non-profit organization and provides the school with on-going system maintenance and a solar production guarantee.
[The C-PACE Secured PPA] provided us with a financing solution under a really short timeframe, and it turned out to be a better financing option than what others were providing. The primary measure of success for the project’s been the energy savings. It’s actually generating more than we initially expected, and we’re definitely seeing the cost savings.