Wauwatosa, Wisconsin Development News

Solar Project Update for Six Elementary Schools Presented to Finance Committee

The Finance and Resource Committee received an update on a proposed solar project for six elementary schools. The presentation detailed the performance of the solar arrays, the investment required, financial impacts, and the net metering policy of We Energies, which is favorable for solar generation. The committee was asked for direction on whether to continue researching the project or to halt the pursuit. The potential federal tax credits available for such projects were also discussed, with an expert from Whipfle explaining the eligibility and application process. The committee was presented with cash flow analyses for implementing the solar systems through an equipment lease, highlighting the potential savings and payback periods. Options for financing, including paying directly from fund balance or using a lease, were presented, along with a comparison of the financial implications of each. The committee also discussed the need for detailed plans regarding financing options and a potential joint resolution with E2S2 for a future board presentation. The timeline for potential board approval was discussed, aiming for September after further detailed information is gathered in the August meeting.