The town vote is on Tuesday, January 19th at the Akeley Building from 7am - 7pm. Our offices will be open on Monday, so please give us a call or stop by if you have any questions.
We are in the final phases of the permitting process for the Nebraska Valley Solar Farm and the Electric Department needs a final approval from Stowe voters for the financing of the project which will be paid for through revenues of the Department, not through property taxes.
In short, this is the most cost-effective way for Stowe Electric to source renewable energy as required by the new State Renewable Energy Standard (Act 56, 2015) and avoid paying penalties to the State.
1. After accounting for the capital costs and interest, the project will provide a total savings of approximately $2,000,000 which will help to stabilize electric rates.
2. The Town will receive $550,000 in lease payments for use of the 6 acre property.
3. The 1 megawatt Nebraska Valley Solar Farm, built in Stowe and owned by the Electric Department, will offset $4,150,000 in energy and related costs over the life of the project.
4. The energy produced by the Farm will help avoid $2,617,000 in penalty payments that the Electric Department would instead have to pay to the State.
5. We have been approved for a Federal Clean Renewable Energy Bond (CREB) subsidy which will save $1,400,000 in interest payments. We have to have all permits in place before we can issue the bonds on February 2nd which is why we are holding the vote on January 19th.
Again, please stop by the office or give us a call if you have any questions at (802) 253-7215 and please come out and vote on January 19th from 7am to 7pm at the Akeley Building.
You can also read more the most recent Stowe Reporter article at this web address: http://www.stowetoday.com/stowe_reporter/news/local_news/stowe-solar-vote-is-jan/article_9df[...]tml
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