PORTLAND, Ore. — July 30, 2009—Waves of the water variety are made every day of the week at East Portland Community Center. Now the city’s new natatorium is making waves of a different sort with its solar energy system. The system is set to start generating electricity in August 2009, and is the only natatorium in the country to earn LEED® Platinum status — the highest level recognized by the U.S. Green Building Council. The project was made possible by an innovative public/private financial arrangement referred to as a third-party ownership model.

The 86-kilowatt solar electric system covers the roof over the pool on the south side of the building. It is expected to generate approximately 90,000 kilowatt hours (kWh) of clean renewable electricity every year. Over the next 20 years, the resulting carbon dioxide reduction is equivalent to more than 2,000,000 miles not driven. The natatorium also features a solar water heating system to preheat water for the swim area’s showers. This 240-square-foot system will save the city about 580 therms of natural gas each year.

“Portland has become both nationally and internationally recognized for our sustainable building practices, but with this pool we have established a new benchmark,” said Zari Santner, director, Portland Parks & Recreation. EPCC was designed by SERA Architects, Portland, and is the first aquatics facility in the nation to achieve LEED Platinum certification. “We’re proud to be able to offer east Portland residents an activity that is not only healthy and sustainable for them, but for our environment, as well.”

Third-party financing, tax credits and incentives make it possible

The public/private, third-party financing arrangement is a collaboration between Sentry Financial Corp., Salt Lake City, Utah, and BEF Renewable, Inc., and Commercial Solar Ventures, Portland, Ore.

The city of Portland will not own the solar system, but instead is leasing the EPCC’s roof space to an entity formed and jointly owned by BEF Renewable, Inc., and an investor represented by Sentry Financial. The city will purchase the electricity generated by the system. After about seven years when the investors have utilized the tax benefits and incentives that come with owning a solar energy system, the city of Portland may purchase the system at its then fair market value, a figure that will be substantially less than what the city would have paid if it had purchased the system upfront.

The project was made possible by an incentive of $150,500 for the solar electric system and $3,534 for the solar water heating system from Energy Trust of Oregon and a $100,000 grant from Portland General Electric. The total cost for the solar electric and solar water heating systems was $844,860. The solar electric system was engineered, designed and installed by

E C Company, Portland. The solar water heating system was designed and installed by GenCon.

The public/private, third-party financing arrangement is collaboration between Sentry Financial Corp., Salt Lake City, Utah, and BEF Renewable, Inc., and Commercial Solar Ventures, Portland, Ore. “EPCC is the first of several projects planned in Oregon by our team. Through this process, we’ve developed tools and experience that will help us aid other government entities who want to pursue solar projects that take advantage of incentives and tax benefits that wouldn’t typically be available to them,” said Sandra Walden, partner and founding member, Commercial Solar Ventures.

“Getting solar on the EPCC natatorium will reduce the building’s energy bills and help the city of Portland achieve LEED Platinum certification for this innovative achievement. It is exactly the kind of opportunity BEF had in mind when we founded BEF Renewable, Inc., as a for-profit subsidiary to bring public and private interests together to realize new, substantial renewable energy projects,” said Margie Gardner, chief executive officer, Bonneville Environmental Foundation.

“Energy Trust has provided or will provide funding for 30 solar installations with a third-party financing model that have a combined capacity of 3.9 megawatts. Nonprofit or government facilities with rooftop real estate can benefit from clean energy, and investors can earn a tangible return for supporting solar,” said Kacia Brockman, senior solar program manager, Energy Trust.

“The East Portland Community Center is one of the crown jewels in the Portland Park Bureau and a showcase of energy efficiency and renewable power generation,” said Thor Hinckley, manager, PGE renewable power program. “PGE is proud to support the nation’s first public swim center that has achieved the highest certification of the green building rating system.” PGE provided funding through the Clean WindSM program.

Solar in Portland supports local, statewide goals

Solar energy is a growing industry and priority for Oregon and for Portland. On a statewide level, Governor Ted Kulongoski has made building a clean energy economy a centerpiece of his agenda. Today, solar energy is directly responsible for about 2,500 jobs in Oregon from solar equipment manufacturers, installers and support industries.

Since 2003, Oregon homes and businesses have installed more than 12 megawatts of solar electric generation across the state. Oregon has been a leader in supporting third-party ownership models.