The Town of Hartford, Vermont, hosts the solar project at their Wilder Well Facility at 10 Walnut Street, Wilder, VT adjacent to the Olcott Falls Manor community, and will see long-term savings and energy price stability. The Town will receive half of the Renewable Energy Certificates from the project, so Hartford is using clean, renewable energy and reducing its greenhouse gas emissions as a result.
As is typical of municipal solar energy development, the Town of Hartford was unable to directly receive the benefit of the generous 30% Federal Investment Tax Credit (ITC), making the Solar Service Agreement (SSA) an effective financing solution. In a Power Purchase Agreement, the system purchaser uses their tax equity position to leverage the 30% ITC and other tax benefits and incentives to own the system and share the savings through a discounted energy rate to the Town. At various predetermined times during the contract, the Town of Hartford has the options to purchase the system at significant savings at the then fair market value.
Reducing Energy Costs for Low-Income Vermonters
In addition, the Housing Foundation Inc. which manages the Olcott Falls Mobile Home Park community receives the remaining 50% of the output of the array, which they will use to dramatically reduce the bills of Olcott Fall’s low-income residents.
The Housing Foundation, Inc. (HFI) is a Vermont non-profit corporation created in July of 1986 to promote and encourage affordable, quality, low-cost housing for low-income families, the elderly and persons with disabilities. HFI accomplishes its mission by constructing, purchasing and managing housing; placing emphasis on sound construction, energy efficiency, and resident accessibility in the purchase and development of properties within the constraints of economic realities and making every good faith effort to address the needs of special populations.
HFI is a 501(c)(3) non-profit that takes advantage of opportunities to preserve existing housing stock, develop new properties and improve the quality of Vermont ‘s existing mobile home parks. The financing packages necessary to carry out these activities are multi-layered and include funds to upgrade sewage systems, water supplies, electrical systems, implement energy efficient measures, and make other improvements. These capital improvements meet environmental regulations and habitability standards. Many resources and partnerships are instrumental and include both federal and state resources and non-profit cooperation.
Norwich Solar Technologies Scope
We provided full scope Engineering, Procurement, and Construction (EPC). Norwich Solar Technologies also worked directly with town administrators and Select Board members from initial, conceptual planning stages through final installation. Norwich Solar Technologies played a key role in securing a solar investor, incentives, and working with the local utility to ensure optimal production and return on investment. Norwich Solar Technologies will perform all operations and maintenance of the system.
Anticipated Production: 137,700 kWh in Year One.
Approximately $3,200 in total savings in the first year.