PENHOLD – The Penhold Regional Multiplex is going green.
Town council recently approved a solar panel project for the multiplex at a council meeting on April 8.
The project is the first of its kind in Penhold.
Rick Binnendyk, the town's chief administrative officer, said the cost of the entire solar panel project is $777,000 (over 15 years), with almost half of that, more than $300,000, coming from a provincial rebate under the Alberta Municipal Climate Change Solar Program.
“There will be no cost to the town specifically, up front,” said Binnendyk. “The town is anticipating in excess of $300,000 in rebate (under the program).
“We are entering into a deferred payment purchase agreement with Enmax (Enmax Generation Portfolio Inc.). It’s going to be over 180 months (or 15 years)," he added. “We should see a financial savings within the first three years."
Rick Binnendyk noted that savings on energy usage will help cover the cost of payments over the allocated time period.
"We should actually not be paying anything different because our power usage would drop," he said. "We consider it to be almost the equivalent of what the units are costing us.”
A total of 1,092 solar panels will be installed onto the multiplex roof later this spring, noted Binnendyk, adding the solar panels don’t have a definitive lifespan but are under warranty for 25 years.
"They expect them to last over 30 years,” he added.
Penhold mayor Mike Yargeau is pleased to see such a project come to the town and said it will benefit Penhold in several ways.
“It’s green power; it’s an environmental (project). It’s good to be adopting to those new technologies,” said Yargeau. “It’s also going to lower our utility costs and it’s saving the town money.”
The solar panel project is expected to begin installation later this spring and be completed by the summer.
“Upon signing off on the agreement, (the project will start) within 30 days,” said Binnendyk. “We’re anticipating (the solar panels) will be installed by the summer. It should be fully installed by the end of July.”
The use of solar energy will begin immediately after installation, he noted.
“I think it’s a great opportunity for the Penhold community,” said Binnendyk. “We’re going green and it’s going to save the community funds.”
