New Bedford Announces Major Solar Power Project

NEW BEDFORD (AP) — The city of New Bedford says it will install solar panels on municipal properties as part of an initiative it says will eventually generate enough power to run 1,500 homes.

City officials said Friday they will place the panels on public land parcels, schools and other municipal buildings. All the installations are expected to be producing power by 2013.

The project, estimated to cost about $40 million, will be paid for by New York-based power company Con Edison Solutions.

Spokesman Mike Verna said the company will recoup the money through federal tax credits, state renewable energy credits and deals with New Bedford to buy the solar power.

New Bedford officials said the power will cost less than conventional power, and total savings could reach $10 million over the project’s first 20 years.

(Copyright 2011 by The Associated Press. All Rights Reserved.)

Comments

One Comment

  1. JohnC says:

    Uhhh, if you want to know why we are $15 trillion in debt, read the above article carefully. The payback on a $40 million project will be $10 million in 20 years. That’s an 80 year breakeven point – if you don’t count interest. Federal money? There is no such thing. It’s our money, dammit. This has got to be about the stupidest project that I have ever heard of. God help us! We want efficiency no matter how much it costs.

    1. fred says:

      juts what i was thinking – the math doesn’t add up. also the word “eventually” is used. i can see people stealing these units to recycle the aluminum before that time .

  2. Rob says:

    Here’s the real story, taxpayers are NOT paying for these solar installations. ConEdison Solutions is putting up the capital and will assume the financial liability. Again, let me reiterate, NO TAXPAYER DOLLARS.

    Based on the current MARKET-based system and incentives, the real payback period for ConEdison will be about 3 or 4 years, NOT 80 years.

    The solar systems are continuously video monitored and surrounded for 8 foot high fencing.

  3. Rob says:

    As JohnC stated, read the article carefully…

    The project, estimated to cost about $40 million, will be paid for by New York-based power company Con Edison Solutions.

    1. JohnC says:

      It also mentioned federal and state tax credits. Regardless of who pays for it, a $10 million savings over 20 years on a $40 million investment is a lousy return. I stand by my original comments.

  4. Solar Energy California says:

    Good blog! I really love how it is easy on my eyes and the data are well written. I am wondering how I could be notified when a new post has been made. I have subscribed to your RSS feed which must do the trick! Have a nice day!
    Regards,
    Home Solar System California

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