Title
Joules Accelerator Funding for Energy Storage Technology
Action
Action:
Adopt a budget ordinance appropriating $20,000 from the Joules Accelerator to the General Capital Projects Fund.
Body
Staff Resource(s):
Phil Reiger, General Services
Sarah Hazel, General Services
Explanation
§ Joules Accelerator, a non-profit organization that supports early-stage climate tech startups in the southeast, is providing funds to the city for the purchase of solar energy storage equipment from Yotta Energy, a climate tech startup.
§ The storage equipment will be installed at CMPD Central Division located at 700 West 5th Street in Council District 2 and will be installed underneath the solar panels, saving space and requiring no electricity to thermally regulate.
§ This equipment will store excess renewable energy from the solar panels and then release it in the evening, increasing the amount of off-grid renewable energy the building will use, which supports the Strategic Energy Action Plan goals of reducing greenhouse gas emissions.
§ The total estimated purchase cost is $59,200 with $20,000 coming from the Joules Accelerator grant and $39,200 from the city’s local match. The local match is available within current appropriations.
Fiscal Note
Funding: General Capital Investment Plan
Attachments
Attachment(s)
Budget Ordinance - Joules