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Plymouth Select Board accepts $10,000 PUC rebate for town solar array, will apply to loan principal
Summary
After a public hearing, the Select Board voted to accept a $10,000 rebate from the New Hampshire Public Utilities Commission for the town solar array; the money will be applied within 30 days to the CDFA loan for the project.
The Plymouth Select Board accepted $10,000 in unanticipated funds from the New Hampshire Public Utilities Commission as a rebate for the town’s solar array on Quincy Road and instructed staff to apply the money to the town’s CDFA loan for that project.
Town Manager Scott Wheaton opened the public hearing and described the payment terms: "These funds will be paid directly to CDFA as an offset to the solar array loan and will be paid within 30 days," he said during the March 24 meeting. Board members and staff thanked Grace Garvey for securing the rebate and completing paperwork.
Wheaton and staff also reported the array has generated a net energy credit of slightly more than $3,600 to date; that credit will be processed on the town’s March 2025 billing cycle. Board members asked how the rebate and the co-op credit would be applied; an unnamed staff member answered that the rebate would go to loan principal and any interest due at payment date would be handled first, with the remainder reducing the principal payment that would otherwise be paid later in the year.
At the hearing the town manager confirmed the solar project was financed with a roughly $680,000 loan at about 3% interest with annual payments; the $10,000 rebate will be paid to CDFA within 30 days of receipt as the board’s action instructs. No member of the public offered comment that altered the board’s recommendation. A Select Board motion to accept the unanticipated funds under RSA 31:95-b was seconded and approved by voice vote.
The board closed the public hearing and returned to other business.
The Select Board directed staff to complete the paperwork for acceptance and for the town to remit the funds to CDFA within the 30-day timeframe referenced at the hearing.
