Utility Credit Purchase Agreement
In August 2012, the Town of Millbury entered into a 20-year contract to purchase net metering credits from a 1 MW, ground-mounted solar facility located on Stafford Street in Leicester, Massachusetts. The solar facility consists of 4,264 photovoltaic modules spread over 5 acres. These modules produce approximately 1.2 million kWh per year. The electricity generated by the facility is fed into the power grid for consumption by a variety of customers. The Town of Millbury and Worcester’s Hanover Theater are the recipients of the net metering credits. The Town of Millbury receives 40% of the net metering credits and The Hanover Theater receives the remaining 60%. The value of the credits produced by the solar facility are reflected on the Town’s electric bills as avoided costs. If the system performs as anticipated, avoided costs will total approximately $540,000 over the life of the contract.