Monday, November 02, 2009 at 12:39:51 PM - by Danny Vo

Phoenix Park, a corporate park in Shirley, Massachusetts, announced that it is installing 2,530 solar panels with a combined output of 506 kilowatts.

The office complex is being built on the site of a former cotton mill. When finished, it will have 325,000 square feet of office space. Developers expect the solar panels to provide 50 percent of the park's total electricity needs.

"Hiring stellar local businesses for green building and renewable energy initiatives" will boost the Massachusetts economy now and in the future, said Phoenix Park managing partner Eric Shapiro. Both the panels - made by Evergreen - and the inverters - made by Solectria - are produced in Massachusetts, Shapiro boasts.

Phoenix Park developers say the solar installation was made possible by a combination of grants, tax credits, and falling component prices. PV prices have dropped as silicon has gotten cheaper in the past year. Further suppressing prices is a glut of solar equipment, thanks to lowered global demand in the recession. It's a good time to consider installing solar panels, say experts.