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Solar Financing

Kitsap Bank is committed to a triple bottom line businesses model, in which we actively seek out ways to innovate and conduct business in a socially, economically and environmentally sustainable way. As an example, we’ve partnered with EcoPower Development to invest in utility-scale clean energy solar projects around the United States. Through this unique partnership, Kitsap Bank has become a leader in our industry with the expertise to finance utility-scale, full scale commercial, and local community-based projects. To date, Kitsap Bank has financed over $33 million of solar projects which generated over 11 gigawatts of electricity in 2021, enough to power 982 homes for a year. This solar energy eliminated 7,796 metric tons of greenhouse gas emissions, equivalent to 1,680 fewer cars on the road or 877,181 gallons of gasoline.

State of the Array

To date, Kitsap Bank has financed over $33 million in solar projects.  And, 7,796 metric tons of greenhouse gas emissions have been eliminated through solar energy in 2021 alone!

Case Study - Jemez Mountain Electric Cooperative

The co-op utility located in New Mexico had an agreement in place with a large utility in which energy was mainly derived from coal. However, as New Mexico has a mandate in place to be net carbon zero by 2025, the co-op had to evaluate alternative clean energy solutions.

They ultimately decided to invest in capturing solar energy through a state-of-the-art solar array with a tracking system that follows the sun. Made up of about 17,000 solar panels, the array is able to produce 17,050 kilowatt hours of electricity per day.