In an effort to be more environmentally conscious and save energy costs Tenafly has started discussions back in September 2012 on installing these panels. Aemrican Clean Energy ( ACE) has been awarded the installation project through a power purchase agreement for 15 years.
The agreement allows ACE to charge a rate of $0.89 per kilowatt hour of electricity at an annual escalation rate of 2.49 percent. The borough will see a projected saving of 740 kilowatt.
The district will save money by signing into a power purchase agreement in which providers will receive Solar Renewable Energy Credits (SREC) and will pay a portion of the bill using those credits
The installation is expected to be completed by August and will take place when students are out of the buildings.
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