1.77 MW Landfill Solar Array Project
Solar Array Latest News:
We are very pleased to report that the Town of Exeter Cross Road landfill solar array is online and operational. The 1.77-megawatt solar array has the capacity of generating the equivalent of 92%, turning this Brownfields site from a liability, to an asset. This project is the largest municipally-owned solar array in the State of NH.
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 has bonded $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.