Renewable Energy Answer to Town Budget
Renewable Energy Answer to Town Budget
This morning’s editorial, “Mixed Results on ‘Green’ Legislation,” and Mark Pruner’s Op-Ed piece concerning a $200 million debt looming for Greenwich pose two problems, one each article. Both have a combined solution. The editorial derides half measures taken by state legislators on environmental issues. Pruner’s piece warned of a financial deficit for Greenwich. Simply put, renewable energy is a huge money maker and that $200 million dollar debt could be handled with some understanding of the financial benefits “green” can offer.
If the Hamilton Avenue and the Glenville schools were built with geothermal systems and photo voltaic solar panels, the alternative energy installation would cost a maximum of $500,000 each, or an extra $1,000,000
That one million would save the town over $100,000 every year, a minimum 10 percent return. Municipal bonds hand out 4 percent. By investing the town’s bond-raised money in renewable energy, the town would reap savings at more than double the rate to borrow. Understand schools and municipal buildings have energy costs already budgeted. If those costs are cut in half or eliminated altogether, that money is used to pay down debt or provide funding for projects like retro-fitting the municipal buildings with solar panels.
The sun, unlike school, does not have summer recess. Those solar panels continue to feed energy back into the electric grid. By law electric meters in Connecticut must spin forwards and backwards. So, while students, teachers and administrators take their well-earned summer R&R, the physical school in which they teach and learn will be making money for the town.
What keeps the town of Greenwich from doing this? The numbers seem straightforward, and that it is better for the planet is not such a bad thing either.
This morning’s editorial, “Mixed Results on ‘Green’ Legislation,” and Mark Pruner’s Op-Ed piece concerning a $200 million debt looming for Greenwich pose two problems, one each article. Both have a combined solution. The editorial derides half measures taken by state legislators on environmental issues. Pruner’s piece warned of a financial deficit for Greenwich. Simply put, renewable energy is a huge money maker and that $200 million dollar debt could be handled with some understanding of the financial benefits “green” can offer.
If the Hamilton Avenue and the Glenville schools were built with geothermal systems and photo voltaic solar panels, the alternative energy installation would cost a maximum of $500,000 each, or an extra $1,000,000
That one million would save the town over $100,000 every year, a minimum 10 percent return. Municipal bonds hand out 4 percent. By investing the town’s bond-raised money in renewable energy, the town would reap savings at more than double the rate to borrow. Understand schools and municipal buildings have energy costs already budgeted. If those costs are cut in half or eliminated altogether, that money is used to pay down debt or provide funding for projects like retro-fitting the municipal buildings with solar panels.
The sun, unlike school, does not have summer recess. Those solar panels continue to feed energy back into the electric grid. By law electric meters in Connecticut must spin forwards and backwards. So, while students, teachers and administrators take their well-earned summer R&R, the physical school in which they teach and learn will be making money for the town.
What keeps the town of Greenwich from doing this? The numbers seem straightforward, and that it is better for the planet is not such a bad thing either.
Labels: budget, CT., debt, Glenville, green, Greenwich, Hamilton Ave., legislation, schools
posted by milesjason03 at 12:20 PM
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