Special Solar Meeting / Status Update
On Monday evening, August 12th, a quorum of six WIC board members and five annual members met for a special meeting regarding installing a photovoltaic system (PV system) at the WIC. The board listened to valuable input from the members and fielded a few questions. Overall the idea of installing a PV system at the WIC is seen as a positive step forward in making the WIC a better place.
There were three items the WIC board planned on voting on during this meeting:
Whether or not to move forward with the project;
Which of the three installation companies the WIC received proposals from should we move forward with; and
How to pay for the work.
To solar or not to solar.
An email was sent to the membership on August 7th detailing the Board's rationale for installing a system. You can read about that here. A motion was called to move forward with a system. The motion was seconded and the motion was carried unanimously. The WIC will be moving forward with installing a PV system.
Who will do the work?
Three companies were contacted about installing the PV system: Diablo Solar, Ambrose Solar, and Suntrek Industries. Of the three, members of the WIC Board identified Ambrose Solar as having the best proposal for equipment, service, and price for the type of PV system that best suits the WIC. After an explanation and brief comparison of the three companies, a motion was made to move forward with Ambrose Solar. The motion was seconded and carried unanimously. The WIC will be moving forward with receiving a formal quote for a PV system from Ambrose Solar.
How the WIC will pay for the work.
The project will cost the WIC $126,100. There are $50,440 in available tax rebates ($37,830 Federal Tax Rebate of 30% from the IRS in 2025 and a $12,610.00 Federal Energy Zone Rebate of 10%). This means that the WIC will have spent $75,660 after the rebates are collected, more if a portion is financed.
The Board has decided there are two ways to pay for this: pay for the amount in full; or, pay for $76,100 of the $126,100 and finance 50,000 over 6.4 years. The Board did not come to a consensus on which way to go during this meeting, so a motion was not made regarding the financing. The Board will be discussing this over the next week and will have a final decision soon.
We would like to hear input from the Membership. The WIC has the resources to pay for the entire amount and plans on accepting all available rebates. Should the WIC pay for the whole amount and carry no interest? Or, should the WIC finance $50,000 of the cost to build credit with a financial institution so financing may be easier for future projects? If the WIC does finance a portion of the amount, the WIC could be paying around $15,000 in interest over a six-to-seven-year period. If you have an opinion about which way we should go, please email us no later than Friday, August 16th.
If you have any thoughts you would like us to hear, please let us know: board@woodacreimprovemnetclub.com