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Measure T solar rollout proceeding; committee hears district plan to preserve federal credits
Summary
District staff told the oversight committee they are moving forward with design-build for 10 solar sites to meet deadlines tied to PG&E's NEM2 and federal tax-credit rules; staff are pre-purchasing materials to preserve Inflation Reduction Act incentives and tracking reimbursements in a separate fund.
District staff updated the Citizens Bond Oversight Committee on Measure Tsolar work and related fund accounting.
Will (district energy project lead) said the district is advancing design-build contracts for 10 sites and aims to start construction later this year with substantial completion by the April 15, 2026 deadline to meet PG&E NEM2 requirements. The district plans staged contract buyouts so each site's contract can meet federal Inflation Reduction Act (IRA) qualification rules; Will said the team has identified required material commitments (for example, pre-purchasing steel) to establish eligibility for monetizable tax credits (ITC) and is coordinating with contractors on material procurement.
Financially, staff explained the distinction between Fund 21 (traditional bond proceeds) and Fund 40 (reimbursement/solar fund). The district used bond funds up front to execute projects and is tracking state reimbursements and federal incentives that will flow back to Fund 40; staff said some rebate and incentive dollars are already committed to solar projects and may be reinvested into solar or other facilities projects consistent with allowable uses.
The committee asked about risks to federal credits and timelines; staff said they were monitoring regulatory changes and taking steps to preserve eligibility, and that they would push for timely DSA approvals and efficient procurement to meet deadlines.
Next steps: staff will continue to update the committee on contract execution, rebate/grant receipts, and the status of Fund 40 reimbursements.
