School Gets Creative To Pay For Solar Panels | WAMU 88.5 - American University Radio

: News

Filed Under:

School Gets Creative To Pay For Solar Panels

Play associated audio

By Sabri Ben-Achour

Though the cost of solar energy has come down over the years, it remains a big road block. But one of the area’s leading private schools has found it's own creative way of paying for it.

On the roof of the gym at Sidwell Friends' lower school in Bethesda, Maryland, 120 solar panels are about to be installed. It's going to cost more than $200,000. But, "this is a no cash deal for us," says Chief Financial Officer Mike Saxenian.

The school is creating an investment opportunity out of the panels, calling it a solar bond. Parents, alumni and friends buy shares in the system. The school pays them for the electricity. Because the investors are individuals, they are eligible for certain grants and incentives that aren't available to schools, says Saxenian.

Power companies in search of offsets can also pay them for what are called Renewable Energy Certificates.

The result is a 3 percent return on investment in 10 years. After that, the investors donate the panels to the school and get a tax deduction for it.

Kirk Renaud runs Common Cents Solar, a non-profit that's helping the school go solar.

"We think it's a great model for any type of situation where there's a community asset - a recreation center, a church, a synagogue, school," he says.

The school says its solar panels will offset approximately 1 million tons of greenhouse gases.

NPR

Philip Seymour Hoffman Leaves Indelible Bond In 'Most Wanted Man'

The late actor hit his peak in the adaptation of John le Carre's 2008 novel. The movie isn't a clean piece of storytelling, but Hoffman connects with viewers on a level most actors never approach.
NPR

The Weird, Underappreciated World Of Plastic Packaging

So much of the food we eat these days is encased in plastic. And behind it is a whole lot of research and innovation. We dive into some of the materials that keep food fresh and portable.
NPR

The GOP's New Plan To Tackle Poverty: Helpful Or Hurtful?

Republican Congressman Paul Ryan has a new plan to address poverty. Host Michel Martin talks with commentators Corey Ealons and Ron Christie about it and other political stories of the week.
NPR

The Weird, Underappreciated World Of Plastic Packaging

So much of the food we eat these days is encased in plastic. And behind it is a whole lot of research and innovation. We dive into some of the materials that keep food fresh and portable.

Leave a Comment

Help keep the conversation civil. Please refer to our Terms of Use and Code of Conduct before posting your comments.