The past meets the future at historic Saxonville Mills as Creative Development Co., SolarFlair Energy, Inc. and Brookline Bank team up to install a 498kW photovoltaic solar energy system. Saxonville Mills, originally built in 1884 as a textile mill, was remodeled into commercial building space during the 1970s. The mill is host to a range of tenants including high-tech, retail and studio artists. Now Creative Development Co., owner of Saxonville Mills, is updating the 19th century buildings with 21st century technology to generate electricity using renewable energy. The solar electric system will consist of 1,780 panels from Suntech and two Solectria SGI250 inverters. SolarFlair Energy will design and install the turnkey system. The solar panels will be mounted on three of the mill's nine buildings. Building #7 dates back to the early 1800s. Each year approximately 391,000 pounds of CO2 will be offset by this renewable energy system Creative Development Co. will benefit from the ARRA Federal Stimulus 1603 Treasury Grant and the Mass. Solar Renewable Energy Certificate (SREC) program. The 1603 Grant will cover 30% of the project cost and will be paid within 60 days of project completion. In addition, for each kWh produced by the PV system, Creative Development will save 14¢ in avoided electric utility cost PLUS they'll earn an SREC which can be sold to electric utilities needing to meet state renewable energy mandates. Over the next 10 years the SREC market projects to add between 30¢-60¢ to the value of each kWh of electricity produced, dramatically reducing payback periods and improving the return on investment for solar system owners. SolarFlair Energy will advise Creative Development Co. throughout the project life-cycle including design, installation, coordination with the utility company and SREC brokers. "As a turn-key solar installer SolarFlair is there for our customers before, during, and after construction of their solar energy system" said Matt Arner, president of SolarFlair Energy. "SolarFlair is excited to see more Mass. property owners who are motivated to generate clean, renewable energy as part of the ever growing green economy." According to John Finley, president of Creative Development Co., "We are pleased to partner with SolarFlair Energy and Brookline Bank on this project. These are two local companies that think outside of the box. Solar makes good business sense for our property. We hope the system will attract environmentally conscious tenants and send a positive message to the community". A spring ribbon cutting ceremony is planned at the mill buildings' new solar energy installation. Creative Dev. owns and operates office and warehouse space throughout eastern Massachusetts. Founded in 1970, the company specializes in modernizing historic spaces for contemporary commercial use.