NEWS
We, the members of First Unitarian,
agree to . . .
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First Unitarian's Solar Photovoltaic Project
Several
months ago, our board set up a Solar Electric Task Force to investigate the
feasibility of generating a significant portion of the church’s electricity
using a solar photovoltaic system. The Task Force consisted of Tom Stafford,
Rick Kennedy, and myself. Initially we thought we would incorporate a limited
liability company with church member shareholders to purchase the system, thus
taking full advantage of federal and state tax incentives that are not available
to a nonprofit entity such as First Unitarian. However, recent developments made
this course of action unnecessary. Thanks to all of you who expressed an
interest in investing in this project.
The board has moved forward and signed a non-binding MOU (memorandum of understanding) with Consolidated Solar Technologies (CST) for a solar photovoltaic system to be installed on the roof of the sanctuary. CST will design, finance, construct, and then own a 34 kilowatt grid-tied system. CST will sell the generated electricity to First Unitarian at a fixed price for up to 20 years, discounted by at least 12 percent from the current PNM cost. First Unitarian will have an option to purchase the system after year six. CST will be responsible for all service and maintenance issues during the term of the lease.
The system will use the most efficient panels available today. The interlocking panels will be installed as a ballasted system with no roof penetrations. They will have a 5-degree pitch and will not be visible from street level. The panels will be fully warranted for 20 years and are expected to function for 25 to 30 years. With net metering, the electricity will either be used directly by the church or will reverse the PNM electrical meter. The system will supply about 60 percent of the church’s electrical usage and save about 42 tons of carbon dioxide per year. In addition, we estimate a savings of about $70,000 in electricity costs over the 20-year term of the lease. The savings would be considerably more if we purchase the system after year six since the power would be free and we would receive $0.15 per kilowatt hours generated from PNM for years 7 through 20. We expect the system to be installed and operating within two to three months.
--Ken Callahan (April 27, 2010)