Tuesday, July 20, 2010

Santee Schools First to Leverage CREBs Financing


June marked the announcement of the Santee School District as the first member of the CleanTECH San Diego-led CREBs coalition to successfully leverage the new federal direct-pay subsidy in securing CREBs financing at a net interest rate <3% for the 283 kW Hill Creek PV Shade Structure System. Santee Schools issued its “Notification to Proceed” with construction scheduled to begin in July. San Diego Unified School District continues final evaluation and negotiations on two attractive proposals with the potential to dramatically increase its solar PV footprint. The delivery of both immediate and long term savings on the district's utility costs may commence before the beginning of the school year. And finally, the City of Chula Vista also has an RFP out relating to its CREBs awards. Other municipal partners are also making progress on their execution strategies.

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