The city of Indianapolis, IN, is moving forward with a plan to install solar panels on city-owned public works buildings to make them more efficient. The goal is for private companies to finance, build, own and operate the system, paying the city for rooftop leases.
The “Office of Sustainability” in Indianapolis has selected two companies to install the panels. Those companies will lease space on the rooftops, and sell electricity generated by the panels.
The private companies will sign 10-year leases with a five-year renewal option. They will pay the city $10,000 for the fist year of each lease, and $1,000 for each following year. The city expects to generate approximately $24,000 in revenue at each site; the money will be used to support other sustainability projects in the city. The city would have the option of purchasing the panels at the end of the lease.
www.efficientgov.com where the above information comes from has a wealth of information to guide other communities with developing a solar rooftop leasing program.
Sure seems like a creative way for a city to encourage green power and generate revenue. What do you think about this idea?
