Solar 101
The solar electric installation on the Hayden office roof has now produced over 10 megawatts of electricity. From an electricity cost standpoint, this equals approximately $1350.00 in electricity savings. In addition to that savings produced, for every megawatt generated, one (1) Solar Renewable Energy Credit (SREC) is acquired. The SREC's can be sold anytime within 3 years of being produced. Since the start-up on March 17th, the average sale price of each SREC is $347.07 each. This totals another $3,470.70 of positive cash flow. Utility companies need to buy the SREC's to meet the renewable energy requirements that the government mandates. All SREC's are traded/sold through a company that the state designated to do so. Their website can be visited at https://gats.pjm-eis.com
Upon installation the expected solar electricity production for 12 months was 12.976 megawatts. At our current 10.380 megawatts in 6-1/2 months, we are clearly on a pattern to exceed this projection due to the sun filled summer we recently experienced. The original projected return on this investment was expected to be approximately 5 years.
To date the return on investment since 3-17-2010 is $4821.00.
