Project Description
Lake Zurich Community Unit School District 95 serves approximately 5,549 students in the Chicagoland area. In the Fall of 2022, the District decided to take the first step toward a greener future and invest in renewable energy. The District selected Performance Services to install a 511 kW roof-mounted array at May Whitney Elementary. The project scope also included the installation of a new electric vehicle (EV) charger. As a result of this project, the District is expected to generate $775,365 in guaranteed energy savings over 20 years. To further offset the project’s costs, the District received a utility rebate from ComEd for $127,781 and anticipates an incentive from the Inflation Reduction Act for $470,049.
In addition to the guaranteed savings, utility rebate, and IRA incentive, the District will receive renewable energy credits (RECs). These will become an additional source of income for Lake Zurich as they are certificates representing the environmental benefits of renewable energy. The District can sell the solar credits to utility companies that need them to meet certain state-mandated requirements. The expected revenue from the renewable energy credits is $412,842.
Project Highlights
- Install an electric vehicle (EV) charger
- 511kW roof-mounted solar installation
- Utility Rebates: $127,781
- Renewable Energy Credits: $412,842
- Inflation Reduction Act Incentive: $470,049
