Fiscal Note
The proposed resolution authorizes a contract with Butter Solar LLC for the annual purchase and sale of renewable energy credits for years 2019-2023 in the amounts listed below. This contract was authorized in Legislative File 52807 in 2018, but did not include the full amount that the City would be required to pay under the terms of the contract. The amount of the increase reflects a $4.75 per renewal energy credit (REC) charge that the City is required to pay in the first year of each facility’s production; this amount is reflect parentheses below.
2019: $410,960 (increase of $21,900)
2020: $405,328 (increase of $51,158)
2021: $412,238 (increase of $21,273)
2022: $178,113 (increase of $7,805)
2023: $91,715 (no change)
Funding for these annual payments is available in the 2020 Engineering-Facilities Management's Sustainability Improvements capital program (MUNIS 10563), which budgets $750,000 of GO Borrowing annually for projects that support the implementation of the Madison Sustainability Plan. Budgeted funding for the program in future years will be subject to Common Council approval of the capital budget.
Title
Updating the Fiscal Note for accuracy in financing new community-scale solar projects in Wisconsin to advance the City of Madison's transition to 100% renewable energy.
Body
WHEREAS, the City of Madison desires to implement energy and carbon policy consistent with the environmental, economic and social objectives articulated in the Madison Sustainability Plan, the City’s Energy Work Plan, and the existing State of Wisconsin energy policy applicable to local governmental units under Wis. Stat. sec. 1.12; and,
WHEREAS, in 2017 the City of Madison established a community-wide Energy and Carbon goal of 100% renewable energy and net-zero carbon emissions; and,
WHEREAS, also in 2017, the City of Madison selected Sustainable Engineering Group LLC to provide a plan for city operations to achieve goals of 100% renewable energy and net-zer...
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