Keystone Power Holdings presents community solar project to local school district

The Richland County CUSD 1 School Board is exploring a promising community solar agreement with Keystone Power Holdings that could significantly benefit both the district and local residents. During the recent school board meeting, representatives from Keystone presented a plan to utilize district-owned land for solar energy production, which could lead to substantial savings on electricity costs.

Keystone Power Holdings, a leader in municipal solar projects in Illinois, aims to develop two solar sites near the district. The first site, projected to be a 2.5 megawatt system, would provide the school district with approximately 20% of its output, equating to a 500 kilowatt system. The second site, a larger 3.5 megawatt system, would yield around 700 kilowatts for the district. Together, these projects could generate significant energy savings, with estimates suggesting a reduction of up to 64% on electricity bills in the first year alone.

The financial implications of this agreement are noteworthy. Keystone has proposed lease payments of $1,300 per acre, which is considerably higher than current agricultural rents. Over the 25-year lease term, the district could receive around $500,000 in lease revenue, alongside substantial savings from the solar energy credits. These credits, funded by state programs, would allow the district to purchase energy at a discounted rate, further enhancing the financial viability of the project.

The board's decision to hold off on selling the land a few years ago has proven to be a strategic move, as this solar initiative not only promises financial benefits but also positions the district as a community partner in renewable energy. Residents who choose to participate in the program could also enjoy a 10% discount on their electricity purchases, fostering a sense of community involvement and sustainability.

As the school board considers the next steps, including signing a letter of intent with Keystone, the potential for this solar project to transform the district's energy landscape is becoming increasingly clear. The collaboration could serve as a model for other districts looking to harness renewable energy while providing tangible benefits to their communities.