The 2.4-megawatt SunPower T5 Solar Roof Tile system represents an $11.5 million investment, according to Mike Cowley, president of Cowley Cos. He tells GlobeSt. that the installation, which comprises 6.5 acres of solar panels from San Jose, Calif.-based SunPower Corp., will be operational in August. Empire Power Systems is handling the installation.

The new solar power system will allow Cowley Cos. to provide tenants with electricity that is not only renewable, but also about 25 percent less expensive than typical industrial electric rates. "From a competitive standpoint, being able to offer lower electricity rates will make our property more attractive to tenants," Cowley says.

Cowley Cos. is off-setting the cost of the solar installation with federal tax credits and a production-based incentive provided by Arizona Public Service (APS). Through the Renewable Energy Incentive Program, APS offers incentives to customers who add renewable energy systems to their homes or business. The program is funded by APS customers and approved by the Arizona Corporation Commission.