22 Jan St. David’s Solar — Net Positive from Year One
St. David's Episcopal Church will be completing a solar rooftop installation on their parking garage in a few weeks, and -are you ready for this?- the system is cash positive in its first year! 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!
St. David's Episcopal Church, Austin, TX.
If you're interested in going solar, the question may very well be, "can your congregation or business afford to wait?" Funding support from the Federal government & Austin Energy, as well as favorable loan terms, make this system a money maker!
“Without solar, businesses are paying an operating expense they don't need to pay."
— St. David's solar contractor
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.
Info sheet compiled by Merdian Solar
See a gallery of beautiful photos from the project's installation taken by one of our members, plus more data, on our Facebook page.
Also, we recommend this related story on how Apple, Walmart, Kohl's, Costco, and IKEA are making big solar investments, here.
The Interfaith Environmental Network of Austin (IEN)
Inspiring the Austin area faith community to live out the common call of environmental stewardship.
© 2014 Interfaith Environmental Network
Learn more about the IEN’s support for going solar by contacting our Energy Action Team and getting involved in our Green Shepherds program by sending us an email: ien.energyteam ”at” gmail.