FOR IMMEDIATE RELEASE
WHITE RIVER JUNCTION, VT
June 2, 2015
Upper Valley Aquatic Center (UVAC) and Norwich Technologies announced plans to build a 500 kilowatt (AC) solar electricity project in Hartford, Vermont for the benefit of UVAC and its members.
This significant project brings substantial economic development in the Town of Hartford, providing additional jobs and local economic benefits from the rapidly growing solar energy industry.
Feeding into Green Mountain Power Corporation’s electricity distribution network, this Project is projected to save UVAC a significant amount on their annual electricity bill over the 20 year contract period. “This is a terrific way for UVAC to save money on its electricity budget, while adding renewable electricity to the grid” said Richard Synnott, Executive Director of UVAC.
Norwich Technologies has become a leading developer of solar projects in the Upper Valley, with over 2 Megawatts of new capacity currently under development. “We are very excited to be associated with this project”, said Joel Stettenheim, Co-Founder and President of Norwich Technologies. He added that “this array will preserve local farmland for the next generation while providing clean energy for the current one.”
Questions regarding the project can be sent to Norwich Technologies at [email protected]or by phone at (802) 281-3213 or Upper Valley Aquatic Center UVACSWIM.ORG, [email protected] or by phone 802-296-2850 ex 103.
Possible Questions and Answers on UVAC Solar Project
1. Q: How is the System being funded?
A: The UVAC Project will be owned by a private party because UVAC, as a non-profit entity, cannot take advantage of the available tax credits. Once those benefits have been realized over the first six years of the Contract, UVAC will have an option to purchase the Project for its remaining life, which would allow us to save even more money.
2. Q: How are the Renewable Energy Credits being handled?
A: Initially, the RECs will be shared equally between UVAC and the developer, Norwich Technologies. The RECs are expected to be sold initially as part of the financing for the project. As a community resource funded primarily by member dues and user fees, we have a duty to our constituents to manage our resources as efficiently as possible. Without selling the RECs, UVAC would not realize all of the savings it can achieve from the Project. At any time, however, UVAC can elect to take all of the RECs from the Project, and always has the right to sell them or retire them.
3. Q: Who will you sell the RECs to?
A: Most commonly, the RECs are sold to a broker on the public market. However, they can be purchased by anyone. If anyone would like to approach us to buy our RECs with the specific intention of then retiring them, we would be happy to facilitate that.
4. Q: Where will the project be built?
A: Since we cannot generate this much electricity on our land at UVAC, we will be leasing land just down the road on Route 5 for most of the array. We have consulted with the neighboring landowners and are in the process of public consultation for the project generally. A small array will be on UVAC property to display the technology to our members and guests and as a reminder that we are committed to green technology.
5. Q: What is the environmental benefit of the array?
A: The estimated clean solar electricity generated by the array is 13.9 gigawatt hours (13,890,000 kWh) over the first 20 years. The estimated avoided C02 emissions over the 20 years is 12.7 million pounds. This is equivalent to the burning of 1,650 tons of coal, 8,920 barrels of oil or 429,000 gallons of gasoline.