Renewable energy company Today’s Power, Inc. flipped the switch on its new 42,000 sq. ft. headquarters in two North Little Rock-based facilities.
The buildings, located on Industry Drive off I-440, closed in December 2019 for $1.7 million. Remodeling took place during the first quarter of 2020.
TPI’s 15 full-time employees will work out of the headquarters, but the company has scores of local subcontractors on solar projects that it works on, according to CEO Michael Henderson.
The company builds solar arrays with single-axis tracking technology, fixed-tilt and rooftop systems for electric utilities, private industrial clients, and government entities.
“It is still a matter of costs and savings,” Henderson said. “We know how to sell a system and extract value. We do it in a way that helps the utility save too.”
For one customer, TPI helped save $180,000 in annual electricity costs. For the utility serving the clients, Henderson said the savings was tripled.
“It’s real. It’s not that we just have a widget to sell you something. We design it to do a certain thing,” he said.
TPI worked with the city of Fayetteville and Ozarks Electric Cooperative to complete a 10-megawatt array with 24 megawatts of battery storage in July. It was the first array in the mid-South to include battery storage, Denney said previously.
In northeast Arkansas, TPI is working with Southland Gin, Delta Farms and Craighead Electric Cooperative to develop the 2-megawatt system with 6 megawatts of battery storage in Bay.
Other Arkansas solar projects that TPI previously announced include those for the Bearden School District, Paris, Star City and Texarkana.
The solar industry is poised for major growth with a recent Arkansas Public Service Commission ruling last month.
The PSC approved June 1 rule changes allowing residents to continue to receive a 1:1 retail credit for the unused electricity their renewable energy systems send to the grid until at least 2023.
The new rules established rates, terms and conditions for net metering in Arkansas and implemented the provisions of Act 464, which went in effect in July 2019. The law allows third-party financing for those looking to use solar energy and increased the allowed generating capacity for commercial solar systems from 300 kilowatts to 1 megawatt.
The new net-metering rules also allow existing agreements between net-metering customers and utilities to remain in place, or grandfathered, for 20 years.
The PSC ruling is under review.