News: Northern New England

Two Nashua schools now powered by solar as the city continues its clean energy transition - Fairgrounds Middle School and Dr. Crisp Elementary School

Nashua, NH The city is continuing its transition to 100% clean energy with two new solar arrays recently installed atop two of its public schools. A 1,760-panel array on the roof of Fairgrounds Middle School and a 534-panel array on the roof of Dr. Crisp Elementary School were completed at no cost to taxpayers by ReVision Energy, a local employee-owned benefit corp. They are the first public schools in New Hampshire to meet 100% of their annual electricity needs from solar, according to ReVision Energy. 

Mayor Jim Donchess, School District COO Dan Donovan, principal Cherrie Fulton, and other city officials unveiled the solar arrays at a socially-distanced ribbon cutting ceremony at Dr. Crisp Elementary School and flipped the switch to turn the solar on.

“These solar arrays on Dr. Crisp and Fairgrounds not only strengthen Nashua’s commitment to a sustainable energy future, but also present an opportunity for students to learn about clean energy,” said mayor Donchess. “ReVision Energy has been Nashua’s partner for several city solar projects and we’re proud to continue that partnership on this project. We look forward to more to come.” 

The 660-kilowatt solar array at Fairgrounds Middle School is expected to produce almost 760,000 kilowatt-hours of clean energy annually, well more than the total annual electricity consumption of the school. Excess energy generation will be shared with neighborhood homes while providing revenue to the city.

 The smaller 200-kilowatt array at Dr. Crisp Elementary School is expected to produce 227,000 kilowatt-hours of clean energy every year, also more than the school’s annual consumption. Taken together, the two school arrays will offset roughly 1 million pounds of carbon pollution, the equivalent of planting over 10,000 trees. 

“ReVision Energy is inspired by the City of Nashua’s commitment to fighting climate change and leading the clean energy transition on behalf of current and future generations,” said Dan Weeks, ReVision’s Director of Market Development and a Nashua resident. “As an employee-owned solar company focused on environmental justice, we are honored to partner with cities and schools, businesses and nonprofits throughout New Hampshire that are following Nashua’s lead in cutting costs and carbon pollution.” 

The solar projects are being financed ReVision Energy’s local mission-driven impact investors at no cost to the City, with immediate savings provided through a power purchase agreement. After five years, the City may choose to buy the arrays at a substantial discount off the initial cost in order to establish a “clean energy endowment” and realize net savings in excess of $1.5 million over the 25-year warranty period. The expected commercial lifespan is 40+ years with projected savings in excess of $4.5 million. 

Prior to the two school projects, the City of Nashua partnered with ReVision Energy to install solar on the roofs of Lake Street Fire Station, the Nashua Transit Garage, and the Conway Arena after a competitive bidding process. The Board of Education also recently voted to continue adding solar to the Pennichuck Middle School in 2021 and New Middle School in 2022, making Nashua a leader in sustainability among New Hampshire municipalities.
 

MORE FROM Northern New England
Northern New England

November 2024 NH CIBOR president’s message: 10 tips for commercial real estate investors - by Ethan Ash

While many Realtors will tell you what you need to do in order to sell your residential property at the highest price (clean out the junk, update bathrooms and kitchens, paint, etc.) most people don’t get easy to follow guidance on what to do to help your commercial real estate sale. Other than that advice that I
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
Residential is here to untie the office space doom loop - by Thomas House

Residential is here to untie the office space doom loop - by Thomas House

The glut of unused (and to the owners, undervalued) office space because of the advent of work from home is in the process of becoming homes themselves. Though this is an officially supported trend in Boston and other northeast locations, the conversion
Maine multifamily outlook: Opportunities in Portland, Bangor, and Lewiston-Auburn - Blake Wright and Kristie Russell

Maine multifamily outlook: Opportunities in Portland, Bangor, and Lewiston-Auburn - Blake Wright and Kristie Russell

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. 

Interest rates and inflation - by Matthew Bacon

Interest rates and inflation - by Matthew Bacon

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.

The Greater Portland industrial mid-year market update - by Nate Roop

The Greater Portland industrial mid-year market update - by Nate Roop

The industrial market in Maine remains robust, characterized by historically low vacancy rates. As of early 2024, the vacancy rate across the state is below 2%, indicating a continued imbalance between supply and demand. This tight market environment has kept lease rates strong, with many landlords in a favorable position. Asking rates are trending around $10.50 per s/f for