Invaleon Solar donates solar equipment, establishes scholarship fund for Massachusetts college

Montserrat College of Art in Beverly, Massachusetts, will begin a greening of the campus with a vast, multi-building solar array beginning this summer. The project will generate the bulk of the electric energy needed to run the campus, and result in beneficial solar incentives to the college over the life of the program of about $1.3 million.

This month, the Montserrat College of Art Board of Trustees voted unanimously to approve a $462,544 expenditure for the purchase of the Montserrat College of Art Solar Program encompassing eight buildings in downtown Beverly. This new program is designed to generate $1,299,322 in total electric savings over 25 years and provide a positive cash flow beginning in 2022.

dr. Kurt T. Steinberg, president of Montserrat, said, “This is an innovative and creative way to create a green college community coupled with substantial electric savings over the next 25 years and beyond. It is especially important that in today’s energy climate, the college can produce clean electric power and save money at the same time. Montserrat will now be one part of the solution to global warming.”

Invaleon Solar was selected through a competitive bid process to provide solar installation services for the college. Invaleon will donate the solar array and equipment at the college’s 9 Dane Street building, estimated at $25,000 in value. In addition, Invaleon has generously offered to donate a $25,000 endowed scholarship which will add to the college’s ability to help students’ pay for their college educations.

mr. Tom Wu, Chief Executive Officer of Invaleon, stated, “Invaleon, along with Bridge Energy, is proud to be helping Montserrat College of Art in making a meaningful and local impact towards their sustainability and education goals. In addition to installing approximately 200 kW of rooftop solar across the Montserrat campus, Invaleon will be providing scholarships to help close the gaps between STEAM education, renewable energy, and local community outreach.”

Montserrat accessed the Solar Massachusetts Renewable Target (SMART) program to help cover the financing of the Solar Program, the college will receive Solar Massachusetts Renewable Target (SMART) incentive payments totaling $768,828. The buildings to receive solar panels include 23 Essex Street: The Hardie Building, 26 Essex Street; The Student Village, and 301 Cabot Street. These three buildings represent an estimated solar kilowatt capacity of 82.3% of the entire Montserrat Solar Program. The total State SMART program of $768,828 represents not only one of the largest incentives ever obtained for Montserrat, but it will cover the entire cost of the Solar Program plus the planned operation and maintenance costs.

In the Spring of 2021, the College engaged Bridge Energy which has serviced 100 organizations in higher education, non-profit groups, healthcare, and local governments in New England. Bridge Energy has been a valued partner of Montserrat College of Art in the development of the Solar Program on campus.

Construction will start this summer. The College will be financing the $462,544 with People’s United Bank.

News item from Invaleon

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