St. Johnsbury Project Summary
The St. Johnsbury School and the Town of St. Johnsbury entered into a 25-year agreement to purchase the Net Metering Credits that the Norwich Solar solar photovoltaic (PV) project produces at a discounted rate.
Those Net Metering Credits are applied to the Town’s various Green Mountain Power accounts, and the discounted price of the credits saves the Town approximately $325,000 over the term of the agreement.
There is also property tax revenue assessed on solar projects that the Town collects, which will result in an estimated additional $125,000 in revenue to the Town over the life of the project.
The savings from discounted Net Metering Credits, plus lease payments and tax revenues, will result in a combined benefit to the Town, School and residents of St. Johnsbury of over $1 million.
The solar project is comprised of 2,160 solar panels and sits on about five acres. The power generated is equivalent to offsetting the usage from 125 single-family homes in Vermont.
Savings for the School
The St. Johnsbury School is taking a larger portion of the Net Metering Credits than the Town, so the savings the School will realize are approximately $400,000. Additionally, a School-owned real estate parcel adjacent to this project was leased to Norwich Solar for another similarly sized PV project. That lease brings approximately another $100,000 to the School as well as increased tax revenue to the Town over 25 years.
This project is a great example of putting unproductive land back into use via a renewable energy project. It is built in a former sand pit located behind the Green Mountain Mall in St. Johnsbury.
Most agree that we need more renewable energy projects to help reduce the damaging effects of climate change, but there is often reluctance to put them in locations that are highly visible or on land that is otherwise productive. This project eliminates both of those concerns.
- Anticipated Production: ~915,0000 kWh per year )
- CO2 offset: ~17,000 metric tons
- 25-Year Value of Project to the Town and School: ~$1,000,000