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Wind Committee Updated Recommendation

Wind Committee Updated Recommendation. On February 9, 2010 the Wind Energy Committee formally voted 5-0: To recommend that Jamestown construct two 1.65 megawatt wind turbines, with one to be located at Ft. Getty and one to be located at Taylor Point. Rationale for Recommending Ft. Getty.

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Wind Committee Updated Recommendation

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  1. Wind Committee Updated Recommendation On February 9, 2010 the Wind Energy Committee formally voted 5-0: To recommend that Jamestown construct two 1.65 megawatt wind turbines, with one to be located at Ft. Getty and one to be located at Taylor Point.

  2. Rationale for Recommending Ft. Getty • Potential to generate millions of additional dollars of revenue for the Town, thereby avoiding substantial future tax increases to residents • A single turbine at Ft. Getty would be compatible with campers • Initial survey shows campers would not object to a turbine • Profits from turbine could fund Ft. Getty infrastructure improvements beneficial to camping experience • Minimal “footprint”, does not prevent other uses • Minimal noise

  3. Ft. Getty Rationale (2) • Committee felt that if the Town only does one site now, that it will likely be the only site ever, due to the complexity of the undertaking and current green initiatives and funding

  4. Ft. Getty Rationale (3) • Possibility of $750,000 of extra stimulus funding available now, not later. Huge impact on profitability due to decreased costs. • Doing two turbines at once reduces: • Mobilization Costs • Project Management Costs • Transportation, Rigging and Crane Costs • Financial Savings are significant • Estimated in the Hundreds of Thousands of $ • These savings are not even factored into the Committee’s present financial projections

  5. Ft. Getty Rationale (4) • Ft. Getty Road power cables would be buried under roadway utility easement • Improved Infrastructure for Ft. Getty Plan • Removal of overhead lines improves visual experience • Total Approximate cost $377,000.00 • Consists of: • 4/10ths of a mile run (2200ft) at $135 per foot • 2 Pad Mount transformers @$25K each • 3 service Drops at @ $10K each • Funding could be from Dual Project economies (slide 4)

  6. Side-by-Side Comparison All scenarios assume that funding is based on $3M 15 year CREB and balance + 20 year Bond at 5% interest + $750,000 ARRA + $500,000 RIEDC

  7. Calculating Project Costs & Benefits Calculating the Project’s Net Profit: (Electricity Generated x Wholesale Electricity Price) + (Electricity Generated x REC Price) + ARRA Grant + RI EDC Grant - Gross Project Costs = Net Profit

  8. Summary: Net Metering Interpretation From the Database of State Incentives for Renewables and Efficiency. Updated 12/15/09 Available from: http://www.dsireusa.org/incentives/incentive.cfm?Incentive_Code=RI01R&re=1&ee=1

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