Colorado School of Mines Solar Project Effectively Leverages Inflation Reduction Act

With seven new solar sites on campus, among others, Colorado School of Mines is currently pursuing Solar Investment Tax Credits (ITC), a federal policy mechanism supporting the growth of solar energy in the United States. Since the ITC was enacted in 2006, the US solar industry has grown by more than 200x, resulting in increased investments, jobs and economic improvements. 

Dedicated to engineering a more sustainable and prosperous future through transformative education and research, Colorado School of Mines is continually expanding its renewable energy efforts across its campus, taking advantage of Inflation Reduction Act funding opportunities. 

Design and construction, led by McKinstry, began in 2022 on the infrastructure improvement project that added seven solar systems to the Mines campus, significantly increasing the university’s solar energy output. These systems include six rooftop solar arrays and a solar canopy in a main parking lot, all in addition to the two arrays that have been a part of the university’s campus for years. 

This $4.8 million project generates up to 1.5MW of power, a significant impact when you consider the campus’ peak use of 7.5-8MW. Over the 30-year lifespan of this system, it is expected to result in $8.8 million in cost savings. 

Location:

Golden, CO

Market:

Higher Education

Services Provided:

Energy Performance Contract
1.5MW Solar Photovoltaic system 

Carbon Savings

Campus-wide

National Policy Utilization Resulting in Local Impact and Savings 

With the oversight and input from McKinstry’s IRA and Federal Funding Strategy team, Mines hired a tax firm to help them navigate the nuances and take full advantage of the program. Their location within an energy community further qualifies the university for an additional 10% bonus credit, which effectively nets a 40% return on the project. This process and relationship were born out of McKinstry’s IRA expertise and network, which enabled both the introduction and process with the tax firm as well as staying current on all changes with the IRA, as the regulations and guidance are still being reviewed and finalized. The partnership between Mines and McKinstry has also ensured that Mines’ non-McKinstry geothermal projects in progress are able to capture the maximum value of ITC.

Mines’ Solar Achievement Started with Student-McKinstry Collaborative Study

Guided by a mission to prepare students for life beyond the classroom, Mines actively embraces an innovative approach to offering unparalleled real-world experiences for its students. These efforts by Mines to drive sustainability and resiliency also include academic engagement and milestones, with students taking part in the work.

Initiated with a solar feasibility study in early 2020, both Mines and McKinstry were able to partner and gain an understanding of overall costs, benefits and the potential energy capacity that an investment in solar could bring to the campus. Following the study, conducted with Mines students in the Capstone Design Program, McKinstry’s renewable energy development teams were able to clearly audit and understand what would go into the design of the potential system, and have since taken this from idea to implemented solution. The partnership between Mines and McKinstry provided a real-world project that put students on the front lines of innovation.

A Growing Partnership

Colorado School of Mines has achieved related milestones in recent years. In September 2019, McKinstry completed a 74kW solar array on the university’s McNeil Hall, which opened in Fall 2020. The project was part of a previous project-partnership encompassing various building system retrofits and a campus-wide operational improvement and energy efficiency effort.

Also in 2019, McKinstry began its partnership with Mines on powerED, McKinstry’s behavioral change and energy use awareness program. This program entails working with building occupants to increase awareness, engagement and participation in the efforts to transform the environment.

Mines’ partnership with McKinstry began in 2009. Since then, we have collaborated with the university on multiple energy efficiency projects resulting in utility savings of over $540,000 a year.

We are honored to partner with Colorado School of Mines students, staff and leaders to engage in collaborative pursuits to lessen waste and climate harm from the built environment. The university’s mission, vision and Mines@150 strategic plan is a source of inspiration and motivation for the McKinstry team and we look forward to our continued work together.

Other News About the School of Mines Project

• The Colorado Sun — December 2022: Colorado School of Mines goes renewable, seeking enough solar panels — designed by students — to power its campus.
• Mines Newsroom — January 2022: Solar project will quadruple number of PV installations powering Mines campus.

About Colorado School of Mines

Colorado School of Mines is a public R1 research university focused on applied science and engineering, producing the talent, knowledge and innovations to serve industry and benefit society – all to create a more prosperous future. Learn more at mines.edu.

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