Project will decrease energy costs by approximately 77 percent
Peoria, Ill. (July 16, 2012) — Construction will begin this week to install solar power at Illinois American Water’s Peoria District distribution office building located at 8400 North University in Peoria. A solar rebate from the Illinois Department of Commerce and Economic Opportunity and a federal tax credit will help to fund this investment.
Illinois American Water received approximately $165,000 through the Illinois Department of Commerce and Economic Opportunity’s Community Solar and Wind Grant Program for the installation of a 90.45 kW solar energy system. The company will also receive a 30 percent federal tax credit to help offset installation costs.
“This new solar power system will provide an environmentally friendly energy source to our office in Peoria while reducing energy cost by about 77 percent,” said Karla Olson Teasley, president of Illinois American Water.
The solar structures will be installed by local contractors working with Day and Night Solar and CMS Renewables. In addition to producing electricity the solar power systems will also produce annual Solar Renewable Energy Credits (SREC’s can be purchased by power utilities to help them in meeting renewable energy power requirements.
According to Chris Johnson, Senior Operations Manager for the Peoria District, “This project supports our company’s commitment to control costs. In time this investment will not only pay for itself but will help offset rising energy costs, which ultimately benefit our customers.”