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National Bank of Arizona installs $2 million solar system at Tucson HQ

24 May 2010  |  1869 views  |  0 Source: National Bank of Arizona

National Bank of Arizona announced plans today to install a $2 million solar system on its Tucson headquarters this summer constructed by Natural Power and Energy.

At 402.6 kilowatts, the project is the second largest corporate install in Tucson. The 24,000-square-foot installation of 1,320 panels will be placed on three structures located on the rooftop of its parking garage at the NBAZ Wilmot Road and Carondelet offices.

The system will reduce electricity costs of the two buildings by about 25 percent and will produce at least 580,000 kilowatt hours annually within the buildings that total 128,824 square-feet. The reduction in electricity equates to the average annual consumption of 55 homes in Tucson.

"This is both an economically and environmentally sound decision," said David Lyons, executive vice president of National Bank of Arizona. "We feel it's important to continue to expand our solar initiatives throughout the state and with Tucson being our founding city, we are excited to lead the way with one of the largest commercial solar systems."

"At Natural Power and Energy we are extremely proud to have been chosen to work on this special project for National Bank of Arizona," said Rob Dallal, CEO of Natural Power and Energy. "As a financier of solar installations in both the commercial and residential sectors, and now the prospective owner of a second of its own solar systems, in our opinion the bank has become the leading proponent of solar energy in the state."

National Bank of Arizona has made significant ongoing solar investments in the last few years including installing one of the state's largest commercial solar systems on its Phoenix headquarters back in May 2009 and spearheading Solar Phoenix, the nation's largest residential solar leasing program, by making the program possible with $25 million in financing. In October 2009, National Bank of Arizona also partnered with various organizations to create one of the nation's largest distributed, community-wide solar power systems at Soaring Heights Communities at Davis-Monthan Air Force Base in Tucson. Upon completion, the community is expected to be the largest solar-powered community in the continental U.S.

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