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

Author Explores Armenian Genocide 'Obsession' And Turkish Denial

As a child, Armenian-American writer Meline Toumani was taught to see Turks as a bitter enemy. She wrote her new book, There Was and There Was Not, in an effort to understand that conflict.
NPR

Nutmeg Spice Has A Secret Story That Isn't So Nice

Nutmeg is a feel-good holiday spice. But it once caused serious bloodshed and may have even been a reason the Dutch were willing to part with Manhattan in the 1600s.
WAMU 88.5

Special Prosecutors Should Handle Civilian Shootings By Police, Holmes Norton Says

Norton says mayors and governors could stem anger over civilian shootings by police by appointing special prosecutors to handle them.
NPR

Pyongyang Blames U.S. Amid Reports Of New Internet Outages

Pyongyang has accused President Obama of "reckless words and deeds" and said the U.S. is "playing hide and seek as children with runny noses would."

Leave a Comment

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