Construction has begun on a new $7 million solar installation to supply clean energy at the office campus of Assurant Specialty Property, one of Springfield, Ohio’s largest employers.
Crews will install more than 6,200 solar panels on the roof at Assurant’s campus off East Leffel Lane, as well as atop 15 new solar carports in the parking area. Once completed, the 1.76 megawatt project is planned to produce more than 1.9 million kilowatt hours of solar power each year — making it the Springfield-Dayton area’s largest solar installation.
“By generating much of the electricity we use, this project will help control our electric costs for years to come,” said Ray Rafferty, vice president for Assurant Specialty Property’s Springfield Service Center. “At the same time, we are demonstrating our commitment to environmentally responsible business practices, and reducing greenhouse gases.”
The solar power to be produced at Assurant Specialty Property in Springfield translates to a reduction of more than 1,400 tons of CO2, or the equivalent of planting more than 33,000 trees, or more than 280 acres of pine forest.
Assurant Specialty Property is a part of Assurant, Inc., a premier provider of specialty insurance. The project, the first of its kind at an Assurant facility, will benefit the environment and further expand the company’s expertise in the solar industry. Assurant has launched the nation’s first specialized, bundled insurance program for commercial-scale solar installations, and will be insuring the solar project at its center in Springfield.
Under a 20-year power purchase agreement, Assurant will purchase energy generated by the array, at a discount to retail rates. The system’s performance will be monitored and managed using Tangent AMP, a proprietary technology platform that dynamically balances the interaction between on-site generation resources, facility energy systems and the power grid to enhance customers’ energy economics.
The project is owned by Laurel Capital Partners with funding provided by First Niagara Bank. Tangent Energy will operate the array.
“Assurant is growing our expertise in solar energy, both as an insurer and an end user,” Rafferty said. “As a company, we believe this is an exciting growth area, and here in Springfield, we’re proud to be on the cutting edge of the company’s solar initiatives. This is a sign of our commitment to working in the industry.”
Construction is by Third Sun Solar, a leading solar energy installer based in Athens, Ohio. Construction is expected to be completed this winter. Assurant Specialty Property employs approximately 1,900 at the Springfield campus.
Assurant Specialty Property