KIHEI — The Maui Economic Development Board on Tuesday unveiled its new solar energy system, the largest photovoltaic solar array ever built on Maui.

The project was the result of a third-party financing deal with California-based Solar Power Partners, which agreed to pay more than $500,000 for installation and maintenance, then sell the power back to MEDB for less than current Maui Electric Co. rates.

MEDB Executive Director Jeanne Skog said the deal showed how creative financing could make renewable energy possible for local businesses.

"If a nonprofit can do it, a big corporation can do it," she told The Maui News.

Hugh Kuhn, vice president of operations and technology for Solar Power Partners, said the timing was right to finance a large photovoltaic project in the islands.

"It's an experiment on Maui," he said.

The solar array, which can generate an estimated daily output of 175 kilowatts per hour, was installed atop MEDB's building in the Maui Research Technology Park, and went online Feb. 4. It powers all of MEDB's offices, as well as common areas in the building. On sunny days, surplus power will be sold to Maui Electric, while MEDB will buy back power when it's cloudy.

"We hope it'll be a net zero for us," said Steve Perkins, an MEDB program director.

He said the project set a good precedent for the organization, which has been promoting Maui as a good place for businesses to do renewable energy projects.

"We really want to eat our own dog food," he said.

Mayor Charmaine Tavares, who has said she wants to make renewable energy a top priority of her administration, said she was "thrilled" to see the array in action.

"This is wonderful," she said. "I've seen smaller ones, but this is huge. It's like the breaking of the ice for large commercial operations."

Commercial solar projects are getting more and more common on Maui, said Walter Enomoto of ProVision Technologies, which built the array. While some of the company's recent projects have been on homes, the cost and potential tax credits seem to be driving a larger market for businesses to install solar power systems, he said.

"The market tends to be moving more to commercial," he said.

The technology might be new, but the idea goes back a long way.

Kahu Kealahou Alika, who blessed the MEDB array Tuesday, said the project reminded him of the Hawaiian myth of the demigod Maui, who noticed the days were too short for his mother to dry her kapa.

"What did Maui do?" he asked. "He decided to lasso the sun."

For more Maui news, visit The Maui News.