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Regency Centers, a national owner, operator, and developer of grocery-anchored shopping centers, has installed 750kW plus rooftop PV systems at Persimmon Place in Dublin, CA and East Washington Place in Petaluma, CA. The systems will generate approximately 1,200,000kWh of clean electricity per year for the stores.
Regency Centers partnered with SoCore Energy and several of its retail partners to build the PV systems. As Regency Center owns the real estate, the developing partners can offer shorter power purchase agreement terms than traditional solar developers. Regency will also be responsible for maintenance of both solar systems so the PV arrays will be functioning optimally.
“This is a win-win scenario for Regency, our retail partners that are participating in this unique offering, and the environment,” said Mark Peternell, Vice President of Sustainability for Regency Centers. “We generate income from an unused portion of the shopping center roof, and the participating retailers save on their monthly electricity expenses.”
According to the U.S. Energy Information Administration, the power generated from the two PV sites per year will be equivalent to the power consumption of more than 100 local homes.