1.77 MW Landfill Solar Array Project
Solar Array Latest News:
The Town of Exeter has executed a contract with ReVision Energy to construct a 1.77-megawatt solar array at the Cross Rd. Landfill site. The executed contract is available below. Once constructed, a facility of this size has the capacity to offset 92% of the Town’s current electricity use for municipal operation, turning this Brownfields site from a liability, to an asset.
Prior to construction, the Town needs to secure an Alteration of Terran (AoT) Permit and a Type 1-B Modification to Solid Waste Management Facility Permit, both from the New Hampshire Department of Environmental Services (NHDES). Revision Energy submitted the environmental permits in September 2023 and provided additional information upon request in February 2024. Once permitting is complete and materials secured, construction will be underway.
Check back here for progress updates. (updated 2/14/24)
Project History:
In March 2021, Exeter voters overwhelmingly passed Warrant Article 4 (1031/363), approving $3,617,629 to construct a solar array at the Cross Road landfill site. Following the successful vote, delays in completing an interconnection study and increased building costs threatened the viability of the project. The passing of the Federal Inflation Reduction Act which affords a 30% Investment Tax Credit to municipalities, made the project feasible again, but residents needed to approve the additional project costs.
The additional project costs were presented to the voters in March 2023. Exeter residents once again supported the Warrant Article (1115, 438), approving the additional $1,609,645 for the project. The majority of this additional funding request will be offset by the 30% Federal Investment Tax Credit.
Project Costs and Revenue:
To construct the array, the Town of Exeter will bond $5,227.274 million dollars, amortized over 20 years. The financing plan for the project includes annual revenues and renewable energy credits to offset the amount of debt service, resulting in no tax impact. At year 20, the bond will be fully paid with all revenues generated by the solar array become available to the Town.
As set forth in the Exeter Landfill Cash Flow analysis created by ReVision Energy available below, the project would be cash-flow positive from Year 1. The Town also hired an independent third party, Competitive Energy Services (CES), to conduct its own cash flow, also available below.
It is anticipated the Town will initially sell the Renewable Energy Credits (RECs) to offset costs, and will stop selling RECs when it is desirable to do so. At that time, the Town will use the production to offset our municipal greenhouse gas (GHG) emissions. Based on our 2020 Greenhouse Gas Inventory Report available below, this project has the capacity to offset 92% of the Town’s municipal operation’s electricity use.
