HAWI — Last Monday, EnSync Energy Systems — a developer of innovative distributed energy resources — announced that an undisclosed Hawaii-based investor had purchased a 20-year power purchase agreement (PPA) for Kohala Village HUB.
The PPA will finance a new 60-kilowatt PV system and a 37-kWh lithium-ion residential energy storage system at the Hawi facility. Both systems will meet the majority of the energy needs for the inn, restaurant and other buildings on the 6 acres, and are scheduled to be installed by the end of this year.
“We think it’s important to be adding resilience to Hawaii’s grids,” Ted Peck said, CEO of Holu Energy, a majority subsidiary of EnSync, based in Honolulu. “Gov. Ige signed into law Act 200 last week and the public utility commission opened the docket in response regarding microgrids. This project in Hawi is a leader in directing concerns to address this issue. We’re excited to be a part of working with the HUB to make this happen.”
The project design will allow energy storage batteries to be charged entirely through onsite solar energy.
“The new system will up a critical set of loads to allow for continued operations during an extended outage,” Peck said.
Becoming self-sustainable has been a top priority for the HUB. Talks regarding the PPA began in 2015.
“The cost savings and electricity reliability this tailored installation brings are important additions to our campus and community mission,” Bennett Dorrance, owner of Kohala Village HUB, stated in a press release. “We are excited to be able to deliver sustainable energy, in line with our mission and the values of our community.”
Companies sometimes seek an investor to finance their PV and storage system instead of purchasing it themselves.
“There are usually two reasons,” Peck said. “With a third party participant the client doesn’t have to deal with the operations and maintenance. Secondly, the tax credits are sometimes difficult for people to monetize.”
The PV ultimately saves money.
“It pays for itself immediately because it lowers the energy costs,” Peck said.
Additional PV projects completed by Holu Energy are University of the Nations in Kailua-Kona and Chinese Lutheran Church in Honolulu, among others.