University of Delaware Saves 30K Yearly with Solar Power System
With the oldest solar lab in the nation, it’s no surprise that the University of Delaware is installing an array of solar panels across campus rooftops.
Yes, Delaware Online reports that the nearly-completed project will save the university about $30,000 annually in energy—making UD the state’s largest solar-power generator. A move that costs the university only about $90,000 will pay for itself in three years and make the campus the state’s leader in eco-friendly advancement.
In return from buying energy from Standard Solar, the company will compensate the price of the panels and installation. Schools receive accreditation and lower energy costs, and investors receive a federal tax credit. In this, everyone wins. Even the earth!
Photo Credit: Mathieu Plourde via Flickr CC
Posted on November 19th in Going Solar by Margaret.
November 20th, 2010 at 5:23 am
$30,000 is a good saving i think it is a win win for Delaware
November 20th, 2010 at 11:05 am
The math just doesn’t make sense. How are they producing enough power to save 30,000 for only 90,000. Just doesn’t add up. Investors receiving the tax credit can’t be the whole deal.
November 20th, 2010 at 7:40 pm
a 3 year payback breakeven point….i want to know more…where do i get more info….if this was really true, then everyone would be doing it….i want to data….or is this going to be another global warming scam where no one can get the raw data that was used, or the algorithms used….not that i don’t believe it, but i want the data….
any bet that there isn’t any data available????…..
just putting shit like this out on the net is an obamanation…..
November 22nd, 2010 at 11:42 am
The numbers do make sense, but CalFinder didn’t give the whole story. In addition to the federal tax credit, Delaware has a state rebate program and a Renewable Portfoloio Standard (RPS), which allows owners of solar arrays to acquire Solar Renewable Energy Certificates (SRECs), a commodity that has value due to the need for utility companies to purchase the SRECs to avoid paying higher penalties for not producing enough solar electricity themselves.
On a residential scale (and even on many commercial projects), the numbers will not always look this good, but paybacks of less than 10 years are certainly possible, and in some areas it is closer to five years due to strong incentives, rising electricity costs, and decreasing costs for solar parts & labor. It’s true that solar is still an industry largely dependent on government subsidies, but if you look at the amount of money the governemtn spends subsidizing fossil fuels, the money that goes towards solar is just a drop in the bucket. Solar has already passed nuclear is cost-effectiveness, and I believe it will continue to become more and more accessible.
This may not be the raw data that you were looking for, Bob, but I encourage you to research Power Purchase Agreements (PPA) if you would like to see additional information.
A good source for home-owners looking into solar is http://www.dsireusa.org.
November 22nd, 2010 at 2:06 pm
Thanks Ian for breaking that down and clarifying more. It is certainly possible to pull in bigger savings on large projects like this one. Harder to do for the average homeowner as they can usually only initially have a system big enough to supply their own energy needs.
Just one more reason why more states (and federal gov) need renewable energy portfolios.
Bob, as far as why everyone isn’t doing it is largely because people don’t have the money up front to go solar and many lenders aren’t willing to give out loans for solar projects, which is a shame, given examples like this one. The PACE program was a brilliant one that is now being killed by banks and lenders. If you have $20-30 thousand of DI, I would highly suggest investing in solar and see for yourself. At least talk to an installer in your area and find out if it’s worth it on your home.
November 30th, 2010 at 3:05 pm
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