St. David's Solar - Net Positive in Year One

 

Are you interested in going solar? Can your congregation or business afford to wait? Really good news from St. David's Episcopal Church regarding the soon-to-be-completed solar “farm” atop their parking garage at 8th & Trinity streets in downtown Austin.

Here’s the news… Are you ready for this? The system is cash positive in its first year! In fact, according to the system’s contractor, St. David’s solar system will save the church over $500,000 (in electricity costs) during the next 25 years!

How is this possible? In short: funding support from the Federal gov't & Austin Energy and favorable loan terms make this system a money maker, not a taker!

 

“Without solar, businesses are paying an operating expense they don't need to pay."

-- Meridian Solar

Here are a few financial and environmental highlights from St. David's Environmental Guild, about their solar system: 

  • Loan: 10 year term @ APR 3.58%
  • System Cost: $683,923.00 (includes 10 yr warranty)
  • System Financing: 59% Federal Tax Credit and depreciation, 39% Austin Energy production based incentive, 2% from St. David's (+/-$13,670.00)
  • Replaces: 18% of annual energy consumption
  • Average cumulative savings per year = $11,806.00
  • 10 Year Savings: >$118,000.00
  • 25 Year Savings: >$500,000.00 
  • Project Timeline: roughly 1 year, from the point of application submissions to final installation contract submittal
  • Climate Stewardship: Eliminates over 250,000lbs of greenhouse gasses annually. Establishes St. David's Episcopal Church Austin, Texas as one of the largest solar providers in downtown Austin.
2 St. David's


See more beautiful photos of the project and more data, from IEN documentarian, Al Braden, here: https://www.facebook.com/media/set/?set=a.758539094174623.1073741836.114897148538824&type=3

Also, we recommend this related story on how Apple, Walmart, Kohl's, Costco, and IKEA are making big solar investments, too: https://joinmosaic.com/blog/5-major-companies-went-solar-2013

Learn more about the IEN’s support for going solar by contacting our Energy Action Team and getting involved in our Green Shepherds program: ien.energyteam”at”gmail.com

© 2017 Interfaith Environmental Network