A private investment group has committed $50 million to finance the installation and operation of electricity-producing solar panels in California campgrounds, RV parks and mobile home parks.
“The investor group will pay for the installation and operation of the solar panels in private parks and will sell the power they produce back to private parks at a discounted rate,” said Jimmy Wells, director of engineering for Irvine, Calif.-based Shorebreak Energy Developers Inc.
He said the funding from the investor group will make it possible for private parks to reduce their electricity costs by 35 to 75 percent.
“This program will be especially beneficial to parks that don’t have the money to invest in solar energy themselves,” Wells said, adding that the financing program will be made available to private parks that have long-term tenants.
Debbie Sipe, executive director of the California Association of RV Parks and Campgrounds, said she was pleased to see that private investors are interested in helping private parks invest in solar power systems.
“Electricity is a major expense for most RV parks. While installation of solar panels is a wise investment for the environment, it is even more so for the bottom line of RV parks,” she said.