Finance, Solar  -  February 20, 2020

Falmouth, ME could save $2M with proposed solar installation

The town of Falmouth, Maine, could offset 70% of their annual energy costs and save nearly $2 million over 20 years through a new solar project that is currently under proposal.

The proposal for the four-acre solar array was made by Tangent Energy Solutions, who agreed to provide a guaranteed price of nearly 8 cents per kWh for 20 years, a full 3 cents per kWh less that the town currently pays to Central Maine Power. The town council agreed to move forward with the proposal, the Press Herald reported.

Finance Director Peter McHugh told the publication that the town could produce 1,400 MWh of energy and save $100,000 a year on its electric bill with the implementation of this project. The total yearly energy used by the town and the wastewater department is estimated to be 1,979 MWh combined.

The Press Herald also reported that the agreement would include Tangent entering into an interconnection agreement with Central Maine Power, which would then credit the town of Falmouth for the amount of energy generated.

The details of the contract with Tangent has yet to be finalized. If the project is approved, construction is expected to begin this summer.