The Cumberland County College Board of Trustees approved a 1.5-megawatt solar energy project that officials say will save the school approximately $2 million over 15 years. The project – one of four planned throughout the county, all expected to cost a total of $12 million to $15 million – will require no capital from the school, but will instead by funded by a private developer set to take advantage of various federal energy tax credits and Solar Renewable Energy Certificates (SRECs).
“There are no upfront costs to the college, there will be a lower cost of energy, less volatility to utility costs, it will be a hedge against rising energy costs and you will have the added public relations benefits of being ‘green,’” said Don Rainear, executive director of the Cumberland County Improvement Authority (CCIA). The CCIA is also contributing to the project.
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