Denver, CO

Denver developers ink solar deal for downtown property

Matt Whittaker

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Solar panels near Denver International Airport.David Wilson / Flickr

By Matt Whittaker / NewsBreak Denver

(Denver, Colo.) A local real estate firm has entered a deal with solar developer Pivot Energy to offset electricity used at a property near Union Station, the Denver-based renewable energy company said this week.

Denver-headquartered commercial real estate developer Continuum Partners signed up for a 1.45-megawatt community solar subscription that will cover all of the electricity used at a mixed commercial property at 16th Street and Wewatta Street.

Neither company disclosed terms of the deal. 

With Pivot’s community solar subscriptions, projects are off-site and subscribers receive credits on their utility bills. The company provides a way for Xcel Energy and Black Hills Energy customers to participate in solar projects without having to install panels on their properties.

Continuum’s subscription will offset more than 1,800 tons of carbon dioxide each year from the property, which includes a hotel, offices, shops and an underground parking garage, Pivot said. That’s equivalent to removing more than 350 gasoline-powered cars from the road annually, 

“In addition to the project’s sustainability benefits, the community solar subscription will provide roughly $390,000 in lifetime electricity savings to its commercial tenants,” the solar developer said.

As of the first quarter of this year, Colorado had 2,236 megawatts of solar generation capacity installed in the state, enough to power nearly 430,000 homes, according to the Solar Energy Industries Association

That’s about 5% of electricity produced in the state, which ranks 13th in the nation for installed solar generation, the industry group said.

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Matt Whittaker writes about natural resources industries, including oil and gas, mining, renewable energy, agriculture and cannabis. He's been based in the Denver metro area since 2013. You can follow him on Twitter @mattswhittaker.

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