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Lumberton Township Public Schools Capital Systems / Maintenance and Solar Energy Program December 2008 ASHBROOK E.S. BOBBY'S RUN E.S. & LUMBERTON M.S. F.L. WALTHER E.S. Lumberton Public Schools Total Cost of all projects: $14,996,439 Including solar energy systems of $10,800,000

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lumberton township public schools

Lumberton Township Public Schools

Capital Systems / Maintenance and Solar Energy Program

December 2008

slide4

BOBBY'S RUN E.S. &

LUMBERTON M.S.

lumberton public schools
Lumberton Public Schools
  • Total Cost of all projects: $14,996,439
    • Including solar energy systems of $10,800,000
  • Includes work at all four district schools:
    • Ashbrook Elementary: $3,733,629
    • Bobby’ Run Elementary: $3,243,492
    • F.L. Walther Elementary: $4,405,916
    • Lumberton Middle School: $3,613,402
  • State Pays 42.52% of total project costs $6,375,825
  • Local share: $8,620,614
  • Solar Savings:

Utility savings per year $ 288,472

SRECs per year $ 603,168

Total/year$ 891,640

slide9

5.9 cent

tax increase

Per

home per year.

=

Usual Method: 100% Costs to the Homeowner

Allocation in annual budget without eligible NJDOE Debt Service Aid

Required Maintenance

$ 4,196,439

in next five years.

Cost of Long Range Facility (LRFP) Systems included in referendum (not including Solar)

Required Maintenance

$ 839,288

per year.

slide10

Solar Energy

Similar Solar Projects in New Jersey School Districts:

Toms River Public Schools: Active

slide13

Benefits of Photovoltaic Systems:

  • Financial
    • Reduction of annual electric/utility operating costs.
    • Revenue producing on an annual basis:
      • Solar Renewable Energy Credits (SREC’s)
      • 1 MWh of generated solar power equals an SREC. The SREC can then be traded or sold for a range of $300 to $550.
  • Environmental
    • Reduction of the District’s Carbon Footprint through reduction in fossil fuel consumption.
  • Educational
    • Demonstrates to students, staff and public benefits of renewable energy through technology and financial savings.
    • Develop curriculum of technologies utilized.
clean renewable energy bonds
Clean Renewable Energy Bonds
  • Created as part of the Energy Policy Act of 2005.
  • CREB’s are “tax credit bonds” in which interest is paid
  • for by the Federal Government in the form of tax credits.
  • Permits school districts to issue zero interest rate bonds by
  • providing a tax credit to the bondholder instead of the
  • school district paying interest.
  • School District still entitled to debt service aid.
  • Have to apply to program.