New Jersey is starting to seem like the most Green state in the nation. The Governor has ordered a billion dollars worth of wind turbines installed some 20 miles offshore, to power between 250,000 and half a million homes. New Jersey is obviously a believer in alternative energy sources. Their funding and incentives are considerable. Local communities have already solarized 17 of the 21 schools in the Toms River Regions School District. Now their Brick School District is asking that their 525 kilowatt system be added to the list.
This time it isn’t a matter of if they will put in a solar system, but whether they’re going to contract with another company to provide the equipment, or if they’re going to buy it themselves. If the contract, an outside vendor will supply the solar panels and related equipment, mount that equipment on school property, maintain it, and charge the school for the electricity. Of course, the company is there to make a profit, but how much more will it cost to contract for the power?
The difference is considerable. The school’s net savings is projected at $520,000 if they contract to purchase solar power. But if they finance the $4.75 million to buy the equipment themselves, the state will contribute another $1.25 million, and they stand to gain about $1.2 million in the same timeframe. What’s more, those figures are conservative. Revenues from selling solar power back to the grid could be considerably higher.
Either way they go, that’s not too shabby for having a few panels on the roof. Either way, everyone stands to gain from switching to alternative power. We’re pleased and proud to see the Garden State leading the way in alternative energies by Going Green!