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

A 19th Century Novel Explains Quantitative Easing

This week, the Federal Reserve ended the quantitative easing program. Author John Lanchester says Anthony Trollope's 19th century novel The Way We Live Now clarifies the current financial situation.
NPR

Cash For Halloween Candy? Dentists' Buyback Program Is Booming

If you're like many parents, by tomorrow morning you'll be facing a candy glut. One possible solution? Sell it to a dentist participating in a program that sends candy care packages to troops.
NPR

In New Hampshire, Two Different Tales Of Scott Brown's State Jump

The very close U.S. Senate race in New Hampshire could come down to where Republican challenger Scott Brown is from.
NPR

After Mass Protests, Hungary Gives Up On Internet Tax

The government had proposed taxing Internet usage, but opponents claimed it the government was trying to impose a digital iron curtain on Hungary.

Leave a Comment

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