Little Rock-based solar energy company Delta Solar announced Wednesday (Feb. 23) the completion of a 56-kilowatt solar array for Peoples Bank of Sheridan, which becomes one of the first community banks in Arkansas to be 100% powered by solar energy.
“Since 2017, Delta Solar has partnered with clients across Arkansas to generate highly predictable, long-term returns on their solar investment,” said Bob East, chairman of Delta Solar. “We are excited to have collaborated with Peoples Bank to design and build a system that meets 100% of their energy needs and provides significant cost savings to help better serve their customers and community.”
The array is expected to save the bank more than $243,000 in energy costs over the next 30 years. According to a news release, the system can produce enough power to offset energy usage at the bank’s Sheridan headquarters.
“Delta Solar’s team provided us a personalized solar solution that made sense environmentally and economically,” said Craig Manatt, president and CEO of Peoples Bank. “Our solar system is a win-win for the bank as we were able to significantly reduce our electricity costs while generating a strong return on our investment.”
The array offset more than $750 of the bank’s most recent electric bill, Manatt said. “By comparison, if we had not invested in solar, that money would have earned only about $70 last month,” he added.