Rochester, NH East Rochester School is partially powered by the sun, thanks to a rooftop solar array installed by ReVision Energy. The $250,000 project was financed through SunRaise Investments at no upfront cost to the school district. Local investors will own and operate the array through a Power Purchase Agreement (PPA).
The 86.8-kilowatt solar photovoltaic array became operational in September. It will generate approximately 81,345 kilowatt hours annually, providing 44% of the elementary school’s electricity needs.
The PPA gives the district the option to save money while offsetting its carbon footprint. Under the terms of the agreement, the district will buy solar power for six years at the same market rate as electricity from traditional fossil fuel sources. After the first six years of the agreement, the school may continue purchasing solar power through the PPA, or it may purchase the array at its fair market value and generate solar power at no cost.
Purchasing the system at year seven would result in a 20-year projected savings of approximately $53,000. Over a 40-year period, projected savings would total $442,000. The array has a lifespan of 40 years or more.
A flat-screen monitor will eventually be installed in the school’s lobby. It will track the performance of the array and serve as a real-time educational tool that will display solar electricity production and the positive environmental impact of the system.
The multifamily market in Maine’s major cities presents a diverse range of opportunities for investors. We looked at the potential benefits and unique characteristics of three major submarkets in the state: Portland, Bangor, and Lewiston-Auburn. The information below is based on research done in CoStar and county registries, and focuses on multifamily properties that have four or more units.
As we all know, interest rates have been changing drastically, with movement in both directions, depending on the type and term of financing. The Federal Open Market Committee has taken drastic action in efforts to curb abnormally high inflation, but it hasn’t controlled labor cost growth to the extent that was intended.