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View Diary: Georgia School Using Solar to Save Jobs (14 comments)

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  •  A bit more information on the financing (2+ / 0-)
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    Odysseus, etatauri

    that allowed this to happen would have been helpful!

    Since there must have been some out of the pocket expenses to get the whole thing off the ground.  So to speak at least since the panels actually appear to be on the ground, strangely enough!

    •  There isn't much to go on (1+ / 0-)
      Recommended by:
      Roadbed Guy

      but I did find out that financing is from municipal bonds from the Dublin-Laurens Development Authority (County-based) not private financing.  

      The facility will be built and owned by a private business called  Greenavations Power, Inc. and the school system will lease it.  MAGE (pronounced Mah-gay) Solar, a German company with U.S. headquarters in Dublin will produce the panels.   I don't know why, but there is no information about this installation on Greenavations site or MAGE's!  

      •  Well, some back of the envelope (2+ / 0-)
        Recommended by:
        etatauri, Calamity Jean

        calculations suggest that the school is going to lease the facility for $300,000 and anticipates "saving" $100,000 per year - that it will generate $400,000 worth of electricity per year.

        Or - at 10 cents a KWH - 4,000,000 KWH will be generated over the course of a year.

        According to this handy calculator it will cost between $5 and $8 million to install such as system.  Note that this is most likely an over-estimate because I used the "home" option - economies of scale may exist for larger installations.

        Then they have a year by year projections of payback - it will take 5 to 6 years to break even and then over the next 20 year generate about $20,000,000 in revenue/savings (compared to the $3,500,000 the school projects receiving).

        Somehow it seems like the school is not fully realizing the financial potential of this investment.  The hurdle is probably that they don't have the $5 million to spend up front - I'm assuming the company will pay for this in return for the guaranteed $300,000 per year thereafter.

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