Solar STEM Scenario with the Education Tax Credit and NYS incentives for your school.
The current methods for funding any sustainable energy project for large customers is puzzling at best. This chart is what your school has to deal with:
With the Education Tax Credit, this could be the chart:
Education Tax Credit Scenario –
25kw Solar Array for $12,000 or less at your school.
|Contractor gives your school a bid for $60,000 to install 25kw solar energy system. They estimate the school will save $4000 a year for 20+ years.|
|School asks community to raise funds. 1,000 community members donate $30 each and raise $30,000.|
|NYS offers your school an incentive of 31% or $18,600. (*31% is average, however it can be as high as 79% or as low as 5%)|
|The school now has $48,600 in donations + state incentives and a project shortfall of $11,400 . School writes check, recoups 100% of the money in under 3 years with 17 years of energy savings expected.|
|Students receive hands-on STEM education and marketable skills.|
*The average NYS incentive for government PV panel projects as reported at Open Book is 31%.
All numbers above will vary from project to project.