Palo Alto, California-based solar developer, SilRay, has completed the installation of a 110 kW solar system at Ferrari Farms, a family-owned organic farm.
The system is ground mounted and is comprised of high-efficiency solar panels. The solar array will deliver electricity to Ferrari Farms’ packing facility in California and will help bring down the cost of electricity bills. It will minimize the farm’s utility costs by about $30,000 per year. Ferrari Farms will become one of the first to use solar energy through a leasing agreement with SilRay and this represents the farm’s commitment towards sustainability.
The CEO of SilRay, April Zhong, commented that the Ferrari Farms project signifies a major step for the company's entry into the agricultural sector in California. Zhong also added that through unique solar leasing programs, smaller commercial businesses are able to gain from cost-effective energy solutions and become more sustainable.
SilRay has designed, financed and constructed the solar system using high-efficiency solar panels. Through a solar leasing program, the company will operate the renewable energy system for a period of 10 years and then lease it to the client at very low rates when compared to their monthly utility bills. Once the lease period is over, the company will sell the system to the client at residual value, which allows project feasibility for the farming community, farm owners and investors.
Jeff Ferrari, Ferrari Farms’ owner, stated that SilRay has been selected for their project as the company offers financial support in addition to high quality products.