Lakewood set to approve solar deal
HEBRON – Lakewood School Board members appear ready to approve a 20-year Power Purchase and Solar Services Agreement at a special meeting set for 7 a.m. on Friday, April 27.
The agreement with Tipping Point Energy Inc. of Dublin covers the installation of two solar panel arrays with a nameplate generating capacity of 1,000 kW. The facility is expected to provide approximately 81 percent of the electricity needs of disrict’s Lancer Road schools.
The smaller array – 295 kW – will be located behind the Intermediate School. The larger array will be located south of the high school parking lot for students.
The proposed agreement, which was not available until April 25, sets annual fixed prices starting at $0.06 kWh and increasing at 3 percent annually for the 20 year term. The Year 20 price is $0.1052 kWh.
Last May, Lakewood paid approximately $0.098 kWh which includes a demand charge based on its highest use. Lakewood will continue to pay demand charges to AEP since the utility will continue to have to reserve capacity for the district when the solar system is out of service or its output is far below its nameplate capacity due to cloudy or stormy weather.
Lakewood spent $229,530 on electricity last fiscal year.