Posted Jun. 19, 2012 at 11:20 a.m.

Premium Lock Town of Morrisville seeking investors for solar project

Published: 2012-06-19 11:20:54
Updated: 2012-06-19 11:20:54

Solar energy    Solar energy

A "social finance" model is being offered to investors in which they provide capital to construct the system, take advantage of tax incentives, earn a "fair return" and then can donate the system to the Town....

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If this solar energy thingy is such a good approach to providing energy and benefit to the taxpayers, why doesn't Morrisville use its low interest public entity ability to issue tax free bonds to investors and 100% own the solar project from the beginning. The reason is is that it does not make any financial sense whatsoever. The town can't get its money back because it will cost more to produce the electricity than anyone will pay for it - even the newly combined Duke/Progress Energy company. It's a boondoggle from step #1 and I'm surprised they put such a Rube Goldberg idea in print for the world to see. Are we sure this really didn't originate in Chapel Hill?
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