Folsom Lake Ford expects to save big on a $1.6 million energy efficiency retrofit and solar project made available through the City of Folsom’s green energy financing program, mPOWER Folsom.
The retrofit—one of the largest energy efficiency retrofits in the Sacramento Region—is financed through mPOWER Folsom.
Folsom Lake Ford General Manager Jon Peterson joined City of Folsom Mayor Andy Morin, Folsom City Councilmember Jeff Starsky, and Placer County Board of Supervisors Chairman Kirk Uhler at an event celebrating this unique program and the significant environmental and financial benefits it provides for businesses and residents, alike.
Placer County provides the mPOWER program in the cities of Auburn, Colfax, Folsom, Lincoln, Loomis, Rocklin, Roseville, and the unincorporated areas of Placer County. City of Folsom officials worked with Placer County to bring the county’s highly successful mPOWER program to Folsom in March 2014. mPOWER has been the most successful PACE program in the Sacramento region, to date. mPOWER has funded more than $23 million in energy retrofit and solar panel projects in Placer County since August 2013. Placer County officials are working to make the program available in cities and counties throughout the Sacramento Region.
The $1.6 million financed through mPOWER Folsom will be used to install retrofits that include LED lighting, a cool roof, a new high efficiency HVAC system throughout, and a new 402 kilowatts of solar photovoltaic system at the Folsom Lake Ford and KIA dealerships in the Folsom Automall. The solar installation alone is expected to save the dealership approximately $75,000 annually or $1.6 million over the next 25 years, after all costs have been recovered through savings on utility bills.
mPOWER is a Property Assessed Clean Energy (PACE) program. It provides financing for both residential and non-residential property owners to make energy efficiency improvements, as well as solar and water conservation measures. PACE is unique, in that, the financing will be repaid by adding the annual installments to the property tax bill.
“The mPOWER program is an excellent example of local governments working effectively and collaboratively to achieve win-win, mutually beneficial green energy goals,” said Folsom Mayor Andy Morin. “Property owners save money and the City is able to achieve green energy policy goals and meet greenhouse gas emission reduction requirements.”
“Business owners tell us how the utility savings have increased their profit margins and homeowners have told us how the utility savings have increased their disposable income,” said Kirk Uhler, Chairman of the Placer County Board of Supervisors and Executive Director of the Sacramento Regional Technology Alliance (SARTA).
The energy efficiency and solar installation projects are being installed at the two dealerships by Hunter Energy Solutions. Owner Steve Hunter indicated that he has had 12 projects financed through mPOWER. He stated “the program has been a great tool for helping my clients to make energy efficiency upgrades, reduce their carbon footprint and increase operational cash flow, while allowing them to save their capital expenditures for other things and to ultimately increase their profitability.”
Examples of projects eligible for mPOWER financing include, but are not limited to, heating and air conditioning upgrades; high efficiency windows, doors and insulation, and cool roofs; as well as indoor and outdoor water conservation measures, such as high efficiency and low-flow fixtures, drip irrigation systems, smart irrigation controllers, and artificial turf. Solar panel installation can also be financed through the program. Funding is available for up to 100 percent of the project costs, with no money down, and terms that are longer than traditional programs—up to 20 years for many improvements—and a low, fixed, interest rate.
For more information about mPOWER visit http://www.mpowerfolsom.org/, or call (877) 396-7693.