First Church is considering a proposal to install solar panels on the education building. Posters explaining the project have been placed in the Narthex.
Benefits of solar panels are economic and environmental.
- After a 30 percent investment tax credit, the cost to FUMC would be $162,624.
- In 11.8 years, the church would recoup the initial investment.
- In 20 years, the net cash gain would be $176,713.
- The projected annual bill, post-solar, would be $18,807, compared to $29,509 now.
- The lifespan on the panels is expected to be 30-plus years.
The Governance Board has requested that the Foundation provide the funds for the project, and the savings be budgeted for programs. The Foundation Board has not yet voted on the request.
Update: On Tuesday, July 21, the FUMC Foundation Board voted positively on the Governance Board’s request to provide funding for the solar panel project. Work is expected to begin in the fall. Financial gains from the use of solar will be designated for additional church programming.
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