Item #07
Date: June 7, 2022
To: Mayor and City Council
From: Jim Schaad, City Manager
Subject: IGService Report on City Solar Project Performance Recommendation
Receive and file the report and presentation by IGService on the performance of the City’s photovoltaic installations.
Background
Photovoltaic panels were installed in 2017 at City Hall, the Fire Station, and Public Work Corp Yard. The project was funded with “New Clean Energy Renewable Bonds,” financed over 20 years. The original economic projection used for financing showed the project breakeven at the end of 20 years of its projected 25-year life.
As the City will consider in the future additional self-funding (or partially self-funding) energy projects, it is important to assure that past projects are performing as modeled. It is also important to carefully scrutinize modeling to assure savings and cost estimates are reasonable, such that the outcome is beneficial to Marysville residents.
Report Findings
The panels overall have generated more electricity than projected, and the economic benefit is greater because PG&E rates for electricity if the City had to purchase it from PG&E are increasing faster than used in the original model.
Attachments:
1) “Marysville Photovoltaic Power Generation (Solar Project) Historical and Project Performance Report” dated June 2022