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8 <br /> #3 Ranked Project—Cane Creek Reservoir 352.4kW DC Solar Array <br /> Applicant (Collaborators): Orange Water and Sewer Authority(OWASA) <br /> Cost Estimate: $75,000 <br /> Recommended Funding Level: $75,000 <br /> Total Score(Out of 25 pts): 19.6 <br /> Project Description: "As part of OWASA's on-going commitment to reduce purchased electrical energy use and <br /> decrease greenhouse gas emissions that result from our operations, we seek funding to expand our renewable <br /> energy portfolio to include a 352.4 kW DC solar array at the Cane Creek Reservoir. OWASA was set to break <br /> ground on this project in FY21, but because of our commitment to keep rates low during the pandemic, OWASA <br /> opted for a 0% rate increase this year.This decision delayed several capital projects, including the Cane Creek <br /> Reservoir solar project, which was been delayed indefinitely. We propose to use Climate Action Funds to <br /> resuscitate the project, which will generate almost 525,000 kWh of clean energy in year one." <br /> "OWASA's Fiscal Year 2022 Budget is going to be stressed because we delayed capital projects in the FY21 <br /> budget to achieve a 0% rate increase during the COVID-19 pandemic, instead of the 5% increase that was <br /> originally planned. OWASA was able to move forward with three other solar PV projects because they met a <br /> strict financial standard: no additional money down (beyond the Duke Energy solar rebate) and annual lease <br /> payments that are less than the total energy cost savings.This standard essentially makes these projects <br /> revenue neutral in year one.The Cane Creek Reservoir project is a much larger system; because it could not <br /> meet this standard, it has been delayed indefinitely. Without Orange County Climate Action funding, the project <br /> will not likely move forward. Unfortunately, in delaying this project, we risk losing the potential to use a $75,000 <br /> Duke Energy solar rebate. Moreover, we miss out on an estimated 120 metric tons of greenhouse gas emission <br /> reductions every year." <br /> "This "shovel-ready" project located in a highly-visible location at a popular recreation area in the county would <br /> serve as a showcase for solar projects in our community, raising awareness and excitement for renewable <br /> energy in this area and demonstrating financial feasibility for other such projects." <br /> Project Benefits: "Funding for this project will benefit all residents of Orange County by reducing greenhouse <br /> gas emissions and showcasing the potential for public-private partnerships for solar in our community. It will <br /> especially benefit OWASA customers by reducing the utility's annual electricity costs, keeping rates affordable." <br /> "This project will serve as an example for public entities looking for public-private partnerships to advance clean <br /> energy projects. OWASA has already invested $20,000 for the design of the Cane Creek Reservoir Solar PV <br /> system. Eagle Solar and Light has structured an innovative 25-year lease that makes OWASA's annual lease <br /> payments very close to energy cost savings starting in year one, assuming a $170,000 down payment. Duke <br /> Energy has committed to a $75,000 solar rebate subject to project completion." <br /> "Additionally, Eagle Solar and Light is using a Carrboro-based and minority-owned company, Action Solar, as its <br /> major sub-contractor for the electrical work." <br /> Grant Dollars Requested Per Metric Ton of Greenhouse Gas Emissions Reduced During Project Lifetime: $35 <br />