Posting Language
Title
Approve issuance of a 5-year performance-based incentive to Starwood Capital Group LLC, for the installation of solar electric systems on eight of its facilities in the Austin Energy service territory, in an amount not to exceed $2,142,861.70.
De
Lead Department
Austin Energy.
Fiscal Note
Funding in the amount of $428,573 is available in the Fiscal Year 2023-2024 Operating Budget of Austin Energy. Funding for the remaining years of the agreements is contingent upon available funds in future budgets.
Prior Council Action:
November 30, 2023- Council approved issuance of a 5-year performance-based incentive to Starwood Capital Group LLC for its facilities located at 8310 N Capital of Texas Hwy SB 2, Austin, TX 78759 and 5707 Southwest Pkwy 1, Austin, TX 78735.
For More Information:
Amy Everhart, Director Local Government Issues (512) 322-6087; Tim Harvey, Customer Renewable Solutions Manager (512) 482-5386.
Council Committee, Boards and Commission Action:
February 12, 2024 - Recommended by the Electric Utility Commission on a 8-0 vote and three vacancies.
February 20, 2024 - To be reviewed by the Resource Management Commission.
Additional Backup Information:
Austin Energy requests approval to issue this 5-year performance-based incentive (PBI) to Starwood Capital Group LLC (the Customer) for the installation of solar electric systems, detailed in the table below at their facilities to produce renewable energy for on-site consumption. The table below provides a summary of the system size, cost, proposed incentive, and environmental benefits.
Solar System Details*
Total System Size (kW-DC)
3,139
Total System Size (kW-AC)
2,605
Annual Estimated Production (kWh)
4,596,762
Total System Cost ($)
*Does not include panel and inverter cost
$5,044,132.45
Total Incentive ($)
$2,142,861.70
Percent of Cost Covered
42%
Environmental Benefits** and Emission Reduction Equivalencies***
Reduction of Carbon Dioxide (CO2) in tons
2055
Reduction of Sul...
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