Fairfax County Solar PPA
Date: January 10, 2020 03:55PM
Does anyone know anything about the following Fairfax County Power Purchase Agreement? The press release includes a generous amount of self- congratulatory puffery but is also chock full of conditional and cautionary language that sets off alarms. With the lack of financial details and specific terms that would allow a fair determination of the attractiveness of the deal and the County's history of corruption and self-serving deals it is imperative that this contract is given some sunshine. Here is the press release.
Fairfax County Awards Solar Power Purchase Agreement Contracts, Launches Large-Scale Renewable Energy Initiative Solar Arrays Could Help County Avoid Millions in Electricity Costs
FAIRFAX, Va. – Dec. 10, 2019 – Today, Fairfax County government officials announced contracts with multiple solar power purchase agreement (PPA) service providers. The contracts will allow for the installation of solar photovoltaic arrays at Fairfax County government, school, and park sites, providing the potential for both substantial cost avoidance and environmental benefits over time. This is the largest solar PPA initiative by a local municipality in Virginia to date. Solar PPAs are attractive financing mechanisms for the purchase of renewable energy by government entities because they allow for the purchase of solar-generated electricity from on-site arrays without upfront installation or ongoing operational costs. The solar PPA service provider is responsible for installation, management and maintenance costs. The contracts include favorable electricity rates that in most cases are fixed for the duration of the contracts. As a result, this initiative could potentially yield over $60 million in electricity cost avoidance over the terms of the contracts. Reinvesting the cost savings in energy efficiency and additional renewable energy opportunities will help generate further savings.