Aug 4 2010
Salt River Project (SRP) in collaboration with Arizona Public Service Company (APS) are developing novel financial plans for helping schools in taking up solar energy without involving the usual initial costs. In the process, SRP is urging schools that are interested in taking up solar energy to register for the novel plan.
Thousands of homes and businesses across Arizona are receiving solar power due to generous incentives such as a federal tax credit of 30%, which results in affordable power panels. Since schools do not pay federal taxes, they are not eligible for incentives, as such. The Arizona Corporation Commission is currently reviewing a proposal from APS for helping government buildings that do not have tax liability.
Meanwhile, SRP has announced plans that allow schools to purchase power partially from a huge solar-power plant that has been planned for 2011 in Pinal County. Schools, under a 10-year lock-in period, would be able to get power at the rate of 9.9 cents for every kWh. This plan will help SRP in stretching its investment dollars since it is more economical to have one central solar power plant operating than installing many rooftop solar panels. Thus, schools falling under the territories of APS and SRP will be entitled to solar power by way of entering into third-party contracts, termed as solar-service agreements.
Source: http://www.aps.com/