SoCore Energy LLC, a company co-founded by a Toledo-area native, is working to install solar-energy arrays at Walgreens stores throughout Ohio this year and soon could open a local office.
Chicago-based SoCore received a $5.2 million loan from the Ohio Air Quality Development Authority last month to develop rooftop solar systems at 52 Walgreens stores statewide, including five in northwest Ohio. The project's $9.9 million cost also is being funded by SoCore and a federal solar tax credit.
President Pete Kadens, who graduated from Ottawa Hills High School, said the company has contracted to develop systems at additional Walgreens stores in the state, though he declined to say how many.
"We're helping to develop our market and build the ecosystem for solar in the state," Mr. Kadens said.
SoCore makes SunLock racking systems that allow solar panels to be mounted on flat-roof commercial buildings. The firm, which has 22 employees in Chicago, also owns and maintains solar installations that it develops.
Mr. Kadens said solar arrays at Ohio Walgreens stores will use about 170 solar panels that produce a combine 40 kilowatts. The company has yet to select a solar-panel maker.
The arrays could cut a store's energy costs by 10 to 20 percent. Construction is to start in August and be completed by year's end, Mr. Kadens said.
Walgreens will lease the solar arrays from SoCore for 10 years. Todd Nein, interim executive director of the air quality authority, said Ohio supports the project partly because of its innovative financing structure.
"We think that is going to be key to employing solar installations like this around the state," he said.
SoCore previously was an affiliate partner of the University of Toledo's Clean and Alternative Energy Incubator, where it shared space with other solar firms and got feedback on its mounting systems. Mr. Kadens said SoCore will hire one or two full-time Toledo employees and consider leasing offices at the incubator.
He is optimistic the Walgreens project will spur more work in Ohio.
"Toledo is considered a Midwest hub for photovoltaics," Mr. Kadens said. "You always want to be close to the action."
First Published June 9, 2011, 5:27 a.m.
