Ward Hill Property Adds Solar After Downtown Success

Reviewing the earlier installation on top of the Landmark Building is Mark Friery, left, and Robert O’Brien both of AmRESS of Amesbury. Sven A. Amirian, MassAmerican Energy’s vice president of business development, is in the background.

Solar installation at 26 Parkridge Road, Ward Hill. (Courtesy photograph.)

Solar installation at 26 Parkridge Road, Ward Hill. (Courtesy photograph.)

Success with a downtown solar project recently prompted the owner of a Ward Hill business park property to authorize another rooftop project.

Despite a snowstorm, Marlborough-based MassAmerican Energy completed the 138 kilowatt at City North’s 26 Parkridge Road building at the end of December, according to Sven A. Amirian, MassAmerican Energy’s vice president of business development. Gerry McSweeney, chief operating officer of City North, said he is pleased with both of the projects.

“I was really amazed by the IRR (internal rate of return) of the solar system. Our company received a 30 percent federal investment tax credit for the turnkey cost of the system. In addition we see a recurring revenue stream from the electricity generated and the solar renewable energy certificates we are able to sell,” McSweeney said.

City North’s first installation took place on top of the Landmark Building (formerly Mitchell and Co.), 74-80 Merrimack St.

The new solar system is expected to create a cash on cash return of 37 percent. A third solar system for City North is planned for the company’s property at 9 Forbes Road, Woburn.

2 thoughts on “Ward Hill Property Adds Solar After Downtown Success

  1. Since taxpayers funded 30% of this project it would be nice to know how much it cost.

    That’s quite the gig you got going, huh Sven? Going around giving out free money…..

    What happens when the Federal tax credits end?

    • I was wondering the same about all of these projects. When the federal money ends, what happens then to the cost effectiveness of the project ? Who is liable for the repair of the panels, ect. ?