In the terms of the agreement with The Power Company, CEI will pay a discounted price for the electricity produced for the first six years. After that period, CEI will have the option to purchase the equipment at a discounted price.
"This project typifies CEI's triple bottom line investing principals," said John Egan, director of Housing Development, CEI. "It's good for the economy, it's good for the planet, and it's good for society."
"John and I have been working to make the Deer Ridge Apartments a net-zero energy use facility for over two years and it's nice to see another portion of the plan coming together," said Rich Simon, of Maine Energy Performance Systems.
MEPS was commissioned by CEI to provide an energy audit, which identified measures to achieve the net-zero goal.
These include insulating and air sealing, replacing the existing electric baseboard with air-source heat- pumps, and installing PV trackers. The audit also provided financial models for potential savings and return on investment.
The purchase of the heat pumps was made possible by Efficiency Maine's Low Income Multifamily Weatherization Program.
"Insulating and the heat pump installation are reducing energy use by half. The PV trackers will provide up to 30 percent of the facility's energy needs," said Simon.
Dual axis trackers follow the sun daily from east to west, and seasonally adjust to the sun's arch in the