Since 2018, the Wayne County Commissioners have been working with the Clean Energy Co-op Inc. on a a 33-kilowatt solar array on the roof of the Stourbridge Project in Honesdale., which is housed in the former 1928 school building at the Park Street Complex.
The benefits of the system are expected to last 25 years or more and save the county $3,000 a year. The project, which is expect to generate more power than the Stourbridge Project can use, will also include an informative kiosk to show the operation of the system in real time to visitors at the Stourbridge Project.
New Way Forward
Jack Barnett of the Clean Energy Cooperative recently revisited the project with the Commissioners in light of the lack of grant funding. He said the Co-op board believes that this is an important project for the community and began searching for other ways to finance the missing 25% (approximately $15,000) of the project costs..
The board discovered a project funding model that requires that the Co-op form a subsidiary LLC (Limited Liability Company), together with a local business. The other business will invest about $15,000 and take away the majority of the federal tax credits and depreciation losses. After about 6 years, the LLC can be dissolved, leaving the Co-op as sole owner of the Stourbridge Project solar array.
The commissioners are enthusiastic and committed to installing a solar array at the Stourbridge Project. The Co-op board is currently working with legal and accounting professionals to set up the LLC, its operating agreement and other requirements. Our target is to have the Stourbridge Project solar array installed and operational by the end of October.