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SPL’s Smart Solar. [ Team Victorious Secret] Eunhee Kim Maria Tan Lauren Iacobucci Theodore Groben Tristan Turner. Springfield Power & Light. SPL’s Goals. Solar carve-out of 4% of retail electric sales Focus on commercial buildings Greater than or equal to 50kW installments - PowerPoint PPT Presentation
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Springfield Power & Light
SPL’s Smart Solar[Team Victorious Secret]
Eunhee KimMaria Tan
Lauren IacobucciTheodore Groben
Tristan Turner
Springfield Power & Light
Springfield Power & Light
SPL’s Goals
1. Solar carve-out of 4% of retail electric sales2. Focus on commercial buildings3. Greater than or equal to 50kW installments 4. Cost-effective, sustainable, scalable, reliable
Springfield Power & Light
Current Generating Situation
4% of Total Electric Sales (GWh) 320
Capacity Factor of Solar Panels 20%
Generation Capacity (GWDC) 0.183
Installation Cost ($/WDC) 4.59 -> 1.84
O&M Costs ($/WDC) 0.006
System Lifetime (years) 25
Federal Tax Credit from 2013-2016 30%
Number of Customers 277,140
Net Metering Capacity Limit (MW) 1
Springfield Power & Light
Development StrategiesSmart Grid Technologies
Utility-Pole Mounted
Solar
SPL's energy
database system
Commercial Rooftop Mounted
Solar
Streetlight Mounted
Solar
Phase-In Approach
2014 PUC Approval Process
2015-2017 Phase I 20%
2018-2020 Phase II 30%
2021-2023 Phase III 50%
Springfield Power & Light
Development Strategies Cont.
Solar Acquisition Strategies
Solar Loan Program
Rooftop Rental
Pole-top & Street light
Mount Project
Springfield Power & Light
StorageCentralized Decentralized
Springfield Power & Light
Costs
Phase I Phase II Phase III Total
Expected Capacity (WDC) 36,529,680 54,794,521 91,324,201 182,648,402
Costs $155,315,068 $176,383,562 $199,657,534 $534,753,425
Springfield Power & Light
Financing
• 50% Debt– Long term bonds
• 50% Equity– Issuance of common stock
Springfield Power & Light
Implementation (Sources of Funds)
1. Public Benefit Fund and Rate Base Change– 5% increase to rate base
2. Avoided Peak Energy Costs
3. Solar Loan Program– 13% interest rate
Springfield Power & Light
Financial Summary
Springfield Power & Light
Strategies to Reduce Soft Costs• Cost-Reduction Roadmap for Residential and Small Commercial Solar Photovoltaics by US
DOE SunShot Initiative.
Permitting, Inspection, and Interconnection (PII)
Reduced PII Costs
Installation Labor
Reduced labor costs
Safety Training
Springfield Power & Light
Marketing Strategies• Adapted from ―Smart Solar Marketing Strategies by Clean Energy Group and ‖
SmartPower, 2009, p. 23
Springfield Power & Light
ConclusionConclusion• Cost-effective• Sustainable• Scalable • Reliable
