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Solar Finance Information

Solar Finance Information. Figures from a handout presented to the Board from a community member on February 21, 2012. $500,000 per year savings on energy bills                                                                                     =          $1,000,000

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Solar Finance Information

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  1. Solar Finance Information

  2. Figures from a handout presented to the Board from a community member on February 21, 2012. • $500,000 per year savings on energy bills                                                                                     =          $1,000,000 • $500,000 per year rebate from PG&E for five years • Annual Interest being paid OUT on $10,000,000 bonds                   ($740,000) • Estimated savings per year for five years                                          $ 260,000 • $500,000 per year savings on energy bills                                         $ 500,000 • Annual interest being paid OUT on $10,000,000 bonds                     ($ 740,000) • Estimated loss per year after year five                                              ($ 240,000)

  3. Corrections and Clarifications These were conservative estimates for the first year. Actual electricity costs are expected to increase by 4% each year. By 2037, the avoided annual electricity bill will be over 1.4 million • $500,000 per year savings on energy bills                                                                                     =          $1,000,000 • $500,000 per year rebate from PG&E for five years • Annual Interest being paid OUT on $10,000,000 bonds                   ($740,000) • Estimated savings per year for five years                                          $ 260,000 • $500,000 per year savings on energy bills                                         $ 500,000 • Annual interest being paid OUT on $10,000,000 bonds                     ($ 740,000) • Estimated loss per year after year five                                              ($ 240,000)

  4. Corrections and Clarifications These were conservative estimates for the first year. Actual PG&E rebates are expected to be closer to $740,000 per year once the solar is online. • $500,000 per year savings on energy bills                                                                                     =          $1,000,000 • $500,000 per year rebate from PG&E for five years • Annual Interest being paid OUT on $10,000,000 bonds                   ($740,000) • Estimated savings per year for five years                                          $ 260,000 • $500,000 per year savings on energy bills                                         $ 500,000 • Annual interest being paid OUT on $10,000,000 bonds                     ($ 740,000) • Estimated loss per year after year five                                              ($ 240,000)

  5. Corrections and Clarifications This figure does not take into account the Federal subsidies for the Clean Renewable Energy Bonds (CREBS) of $397,000 per year. The net interest payment will be approximately $314,000. • $500,000 per year savings on energy bills                                                                                     =          $1,000,000 • $500,000 per year rebate from PG&E for five years • Annual Interest being paid OUT on $10,000,000 bonds                   ($740,000) • Estimated savings per year for five years                                          $ 260,000 • $500,000 per year savings on energy bills                                         $ 500,000 • Annual interest being paid OUT on $10,000,000 bonds                     ($ 740,000) • Estimated loss per year after year five                                              ($ 240,000) As a point of clarification, the School District does not make the bond payments. The bond payments are made by the local tax payers, as is true with all General Obligation Bonds.

  6. Corrections and Clarifications This figure is incorrect. The savings to the School District in the first five years is estimated to be $6,526,501 • $500,000 per year savings on energy bills                                                                                     =          $1,000,000 • $500,000 per year rebate from PG&E for five years • Annual Interest being paid OUT on $10,000,000 bonds                   ($740,000) • Estimated savings per year for five years                                          $ 260,000 • $500,000 per year savings on energy bills                                         $ 500,000 • Annual interest being paid OUT on $10,000,000 bonds                     ($ 740,000) • Estimated loss per year after year five                                              ($ 240,000)

  7. Corrections and Clarifications These figures are incorrect as well, for the same reasons outlined earlier. • $500,000 per year savings on energy bills                                                                                     =          $1,000,000 • $500,000 per year rebate from PG&E for five years • Annual Interest being paid OUT on $10,000,000 bonds                   ($740,000) • Estimated savings per year for five years                                          $ 260,000 • $500,000 per year savings on energy bills                                         $ 500,000 • Annual interest being paid OUT on $10,000,000 bonds                     ($ 740,000) • Estimated loss per year after year five                                              ($ 240,000)

  8. Summary • The solar project is being funded with Clean Renewable Energy Bonds (CREBS), which receive a Federal Subsidy towards the interest payment. • The School District does not make the interest payments. • The School District will save over $6,500,000 in the first five years of solar operation. • Over 25 years, the School District will save an estimated $26,579,000. • Over 40 years, the School District will save an estimated $58,620,000.

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