Seal Solar has completed installation of a 45.6-kilowatt solar array at a Malvern National Bank branch in Little Rock.
Seal Solar said the bank at 1818 N. Taylor St. is now the first business in the Heights neighborhood powered by the sun. The 106-panel array will offset 100% of the branch’s electricity use, saving it an estimated $215,000 over the next 30 years.
“Our initial goal when going solar to reduce our energy dependence,” Hunter Windle, vice president of Malvern National Bank, said in a news release. “The financial benefits and incentives made it an easy decision.”
With incentives including an investment tax credit and accelerated depreciation, the project is expected to pay for itself in slightly more than seven years.