|Benefits of our solar array at Takoma Village||<– Date –> <– Thread –>|
|From: Peter Kent via groups.io (peterkent1=icloud.comgroups.io)|
|Date: Thu, 17 Jun 2021 11:31:46 -0700 (PDT)|
This is the current report on the result of installing solar energy panels to serve all our common areas. We don’t have enough roof space to serve the units. (Ironically, just as people have accepted vertical apartment style buildings, we find that to use solar, we need to spread out again.) When we installed the solar panels or roof was ready to be replaced. It might have lasted another 2-3 years but we thought it best to replace it before installing the panels so we wouldn’t have to remove them to replace the roof. The advantage was also that the new roof has a 50 year lifetime instead of 25 and is a better roof — stronger protection. The message below is from Peter Kent, our often treasurer, who was in on this from the beginning. We had investigated solar several times in the past but were told it wasn’t ready. Finally it was ready and took over a year to sort out all the numbers and choose an installer. But as you see the company has already gone out of business (they may all have joined larger firms), the reason to be sure you are working with an established firm when you link up with them. Often we have had trouble getting service on systems that the company didn’t install. This fully services the common house, exterior building and grounds lighting, and the parking gate. Peter also asked me to tell you that the reimbursement rate for SREC sales is widely variable. And can change. Your mileage may vary. ————— Neighbors, Our solar array (or PVES - photovoltaic electricity system) has provided many benefits since it started operation in late 2015. Environmental: As of today, the system has produced 401.73 MWh of electricity. That means we’ve lessened CO2 emissions by 622,063.94 lbs. in less than 6 years. I’m not sure how much coal that translates into but I bet it's a lot. Another way of looking at this benefit — it’s equivalent to planting 4,700 trees. And the system should keep producing for many years to come. Financial: Takoma Village has saved at least $75,000 that would have gone to PEPCO for electricity. This saving has helped keep condo fees lower. And that’s not all! We sell Solar Renewable Energy Credits for every MWh produced. And because we happen to be in the best possible market for SREC sales, we’ve collected a total of $166,271.43 in revenue from this source. And there’s more. The system produces more electricity than we can use. The excess is fed back into the power grid which mean we build up a credit with PEPCO. We just got our first payment from this credit — $11,093.68. And we will be able to request the credit balance every year from now on. But where does all this money go? The savings directly reduce our condo fees. The SREC and PEPCO credit revenue continue to reimburse the Reserve Fund for the loan we made to ourselves to pay the cost of the system. Here is the status of the repayment. Total system cost: $196,724 From Capital Improvements Fund -10,000 From SREC sales -166,094 Balance Due to Reserves $9,359 System Maintenance: The company that designed and installed our system went out of business. So, when several small problems surfaced, it took significant effort to find a company willing and able to provide service. Fortunately Solar Energy Services has now completed repairs to the system and we are at 100% productivity. The other big plus is all of the major components carry a 25-year warranty. This report is intentionally brief. Please let me now if you would like more information on history or any other aspect of the system. Thanks, Peter
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