A cost-effective solution
We would like to clarify the numbers on the Kentucky Coal Mining Museum and the balance of the solar project in Benham. This is a project that we are proud to be part of and do look forward to this project being part of Appalachia as it relates to education, jobs creation, economic opportunity and simply just saving people money. The person that was interviewed was speaking about the complete build out for Benham.
The overall project includes approximately 215 kW of solar PV arrays. Presently, there are 26 kW of the PV panels that are roof mounted at the museum at an approximate cost of $41,600, or $1.70 per Watt. The complete project will cost approximately $450,000, producing 279,500 kWh of energy annually.
Typically, the solar system installed at the coal museum at this pricing would have a payback of about five years after Federal Investment Tax Credits and depreciation. The difference with this system is that it was donated to the community by a Foundation. Therefore, the entire community enjoys the benefits at no cost to the community.
We appreciate the letter sent in on the numbers and agree with the gentlemen on the costs and that solar projects are truly a cost-effective solution to high energy bills.
CEO Star Energy