The Ocean City council in New Jersey have come up with an innovative way to create low-cost electricity using solar energy with a proposal that will save taxpayers 17% on the city’s monthly electricity bills. The council will be installing solar panels at a cost of $4 million that will generate around 540 kW to power some of the city’s public buildings.

The proposal states that the company, Worldwater and Solar Technologies of Ewing, will install the equipment at no cost to city taxpayers. Worldwater will install the solar panels at its own expense on four of the city’s public buildings and will receive a $1.6 million rebate from the state Board of Public Utilities as well as tax credits. They will also be paid monthly charges by the city at a cut rate. In fact, Worldwater will sell the electricity to the city for 2.5c per kW plus a share of the solar energy credits. Compare that to the current price the city pays for the same electricity which is 6 times that price.

You can read about other solar energy developments in construction by visitng the solar energy page.