Over the Top

Solar Energy: Could It Be Right For Your School?

Submitted by Deveny Cay Wells, Editor, Coryell Roofing

Teacher compensation is critical to learning and is often a deciding factor in a school district's ability to attract and retain exceptional educators. Yet, energy costs, second only to salaries in a district's budget, often prohibit schools from increasing teachers' salaries.

Today, 1 in 10 schools in the U.S. have turned to solar energy for budget relief. This represents a threefold increase since 2015, made possible in large part because of a dramatic drop in the cost of solar energy and attractive financing options that help schools realize immediate savings.

In the last decade, the cost of solar panels has dropped 65%. Improvements in manufacturing techniques have led to lighter, more compact panels that not only require fewer materials to produce but also take less time to install. The internet has also helped reduce soft costs such as marketing and customer acquisition. Savings in manufacturing, installation, and marketing are passed on to customers.

In addition, more attractive financing options are available. Power Purchase Agreements, or PPAs, allow solar companies to finance, install, and maintain solar arrays for school districts and other tax-exempt organizations. School districts can pay the solar company for stable, low-cost electricity for no upfront cost and immediate budget relief. The Arkansas legislature passed Act 494 in 2019, paving the way for Arkansas schools to finance solar energy through PPAs.

The number of solar schools has doubled in Arkansas in the last few years. Next month, we will feature solar schools in Arkansas and across the nation that are reaping the budget benefits of improved solar technology and financing options. Until then, Coryell Roofing is more than ready to answer any additional questions you might have about solar energy for your facility. Give us a call!