Northern Kentucky Commercial/Industrial Solar Energy Program

Brief Description/Scope of Proposal:

Northern Kentucky is a logistics and manufacturing hub and thus has almost 90 million square feet of large warehouses and industrial facilities spread throughout our region. With only a few exceptions, rooftop solar installations have not seen widespread adoption, despite having millions of square feet of available rooftop space. We believe this is due primarily to:

1. The lack of a public organization promoting and assisting with solar installations
2. The initial capital outlay
3. The time and complexity involved with having a system designed and installed

 The Northern Kentucky Commercial/Industrial Solar Energy Program proposes to solve these challenges by launching a $20M revolving loan fund to provide a turnkey solution to commercial and industrial businesses and property owners throughout Boone, Kenton, and Campbell Counties in Kentucky. This program will bring renewable energy to a state with a long history of reliance on fossil fuels.

The Northern Kentucky Port Authority will provide loans direct to businesses and property owners to fund the design, installation, and maintenance of rooftop solar panels. The terms and payback schedule will be flexible to allow different sizes and types of companies to take advantage of the program. The initial goal of the program is to install 10 megawatts of power generation in the first deployment of the funds. As funds are paid back and recycled through the revolving loan fund over time, that initial goal will be greatly exceeded.

 The benefits of this program are:

• Reduced reliance on fossil fuels and a reduction of GHG generation
• Reduced operating costs for businesses
• Ability to attract companies to our region with a strong sustainability culture and address demand for a product our region does not adequately supply today
• High visibility of the program’s impact as many of the industrial facilities are located near the Cincinnati/Northern Kentucky Airport and are visible by airplane passengers flying in and out of the Cincinnati region
• Job creation

 Proposal Timeline for Implementation:

The Northern Kentucky Port Authority intends to complete the first deployment of these funds within the designated 5-year period of performance, with at least one project committed for completion in 2025. This loan fund would continue to operate on a revolving basis well beyond the initial 5-year term.

Funding Request Amount: $20M

Current GHG Emissions: TBD

Proposal’s Impact on GHG Emissions: TBD

Impact on Low Income/Disadvantaged Communities:

The Northern Kentucky Port Authority represents a three-county region where 1 in 10 families live below the poverty line and the investment in clean energy has been next to zero. An investment in this sector would attract skilled workers to the region that would earn a living wage. Additionally, all three counties represented contain federally recognized opportunity zones within their borders, presenting an opportunity for outside investment and retainment of quality industrial holdings.