If the power purchase agreement is signed, an array of 17 solar trackers will be installed at the town garage on Tremblay Road. The town will pay AllEarth Renewables a $1,000 deposit and will pay approximately $1,500 a month for the town's power, paying about one cent less per kilowatt hour than if the power were purchased through Green Mountain Power. The monthly bill will cover all the electricity used at the town offices, the Wait House, the town garage, the fire department and the school.
POWER ARRAY
After five years the town will have the option of purchasing the power array for $167,400. The array will cost $558,000 to install, according to Caleb Elder of AllEarth Renewables, who spoke to the select board by phone at an August 23 meeting.
AllEarth Renewables was one of three companies that responded to a bid from the town for a solar array on town land. Waitsfield was among several Valley towns to be approached by solar installation firms seeking to take advantage of state and federal tax credits for alternative energy installations. AllEarth Renewables and other companies install solar arrays for little or no money ($1,000 in this case) and towns agree to purchase the power from these systems for a specific number of years and then have the option to purchase the system at the end of the power purchase agreement (PPA).
BEING VETTED
AllEarth Renewables is currently being vetted by the town's attorneys and others. At issue legally for the town is the question of whether the select board can commit the town to a multi-year financial purchase agreement without voter authorization. Typically, voters approve a one-year budget at Town Meeting.
The town is also exploring the issue of what happens if power prices drop, leaving the town committed to purchasing power at a higher rate. Finally, the town is exploring the Act 60/68 implications on per pupil spending at the elementary school, if the school's power bill is lumped in with the town's power bill and paid by the town.
If the town agrees to sign the PPA and goes forward with the project, the annual cost of the electricity will be $18,263, about $1,000 less than the combined electricity bills for the town. If the town decides to purchase the array after five years, the $1,000 deposit goes towards the purchase price.
{loadnavigation}
