School District Earns Another $27,950 from Solar Panels
To date, the Lawrence Township public school district's solar initiative has generated $1.7 million to offset district energy usage and provide tax relief to residents.
Editor's Note: The following news brief was contributed by Lawrence Township Public Schools.
Lawrence Township Public Schools recently participated in another auction to sell Solar Renewable Energy Certificates (SRECs) generated by the solar panels installed on the roofs of the district's schools.
The district earns one SREC for every 1,000 kilowatt hours the solar panels produce.
At auction, the district sold 325 SRECs at $86 each, for a total of $27,950.
To date, the solar project has earned $1.7 million in SREC sales.
Lawrence Township residents voted on April 15, 2008, to approve a bond referendum financing solar panel installation on the roofs of all seven school buildings within the Lawrence Township publis school district.
Revenue earned at SREC sales is in addition to the energy usage offset by the solar panels and goes towards tax relief for Lawrence residents via debt reduction.