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Castine manager: solar financing pending data; town aims to finalize by Dec. 31, 2025
Summary
Town Manager Derik Goodine said the town is awaiting data and finance information for a proposed municipal solar project, aims to have financing in place by 2025-12-31 to avoid regulatory changes, and estimated an 11–12 year payback period; CEI funding looks promising so a bond may not be required.
Town Manager Derik Goodine told the Selectboard on Sept. 23 that staff are still compiling data and finance details for a proposed municipal solar project and that the town is targeting Dec. 31, 2025, to have financing and approvals lined up before changes to regulations take effect.
“I did not have a lot to report resulting from last week’s solar discussion. I am waiting to receive data and finance information,” Derik said. He added that Central Maine Power/CEI funding looks promising and that he suspects a municipal bond will not be necessary. He estimated that, if pursued under current assumptions, the town would see net savings roughly 11–12 years after installation.
Chair Roberta Boczkiewicz stressed that projected returns must justify the town’s investment and feasibility. The board did not take any formal action; staff said they will return when the finance package and data have been assembled.
Next steps: staff to provide detailed finance figures and data so the Selectboard can evaluate feasibility and fund-sourcing options before the target date of 2025-12-31.
