In a move meant to save the Owen J. Roberts School District millions of dollars in utility costs over the next 20-years, the school board this week approved a $6.7 million energy deal.
The Daily Local News reports the contract with Johnson Controls Inc. includes installing solar panels at the high school and middle school and a series of building and mechanical upgrades in buildings across the district.
According to the report, a portion of the cost, $4 million, will be paid out of the district’s capital reserve account, while around $2.2 million will be borrowed through a municipal lease agreement.
The remaining amount relates to interest on a lease over a 20-year period.
The district tells The Daily Times the project will realize a guaranteed savings of $11 million in energy costs over 20-years. After the project costs, savings would amount to $4.2 million.