Solar Alliance Energy Inc. announced Aug. 15 an agreement to design and build an approximately $3.5 million commercial solar project in Los Angeles, Calif.
The company said it committed to design a custom solar system for the building that will offset over 75% of its annual electricity requirements.
"This project will save the building owners an estimated [$20 million] in electricity costs over the life of the system and it illustrates the exciting growth prospects for Solar Alliance in the virtually untapped commercial solar sector," Solar Alliance Chairman and CEO Jason Bak said.
The company plans to finalize its $3.5 million capital cost estimate upon completion of a feasibility report and grid connection application by the end of September.
"This commercial project in L.A. and the Aries acquisition set the stage for increasing growth in commercial solar sales," Bak said.
Construction of the project is planned to begin by the end of this year.