Problem
Solution
Steve Levy, along with other trustees of GRTWA formed an LLC which paid for the solar and installation. The non-profit organization used the model of ownership in the form of an LLC, using the roof space to generate power. The school has allowed them to use the rooftop while they buy power from the partnership. When the return on their investment was reached in the third year, the solar array was donated to the academy, along with the financial benefits such as the NJ SRECs.
Result
The Gottesman RTW Academy installed a 178.50 kW roof-mounted solar array with SunPower solar modules, the most efficient solar modules on the market in 2013. The Academy reached its return on investment in year three with the help of SREC income, the Tax Credit (ITC), MACRS Depreciation, and energy savings. Over the course of 15-years it is estimated that the array will produce about $618,000 in SRECs for a combined total savings after recouping the investment of $860,922. The array allows for students to learn and be interactive with green energy and will keep the academy cash flow positive for years to come.
Overall Solar Experience
“I can tell you with a high degree of confidence that financially it was a wonderful decision. It’s a good thing for the environment, it’s a wonderful combination.”
– Steven Levy – Treasurer, Gottesman RTW Academy
