The new 820 kW solar array was financed through a third-party solar power purchase agreement with a local Iowa corporation, Oneota Solar, LLC. The project is an example of an innovative and forward-thinking partnership that will benefit the local economy and the college. Under the terms of the agreement, Luther will pay a fixed price per kilowatt-hour for 10 years, and then will purchase the facility from Oneota Solar, LLC, and operate the arrays for the long term. Luther expects to save at least $1 million in electricity costs over the 20-year life of the system. This solar energy project is part of Luther’s aggressive goal to achieve carbon neutrality by 2030. Read more here.