Solar is Part of a Larger Energy Initiative

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Cynthia Benson
5 years ago
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1 BRIDGE SOLAR TEAM PRESENTATION UPDATE FOR ANNUAL CONGREGATIONAL INFORMATION MEETING

2 Solar is Part of a Larger Energy Initiative Conducted detailed energy audits of Church facilities Solar system smaller size because of multiple Energy Efficiency ( EE ) projects Deployed save first strategy Reduces overall cost of energy program Estimated annual total electric utility savings, once all proposed energy efficiency projects are completed, is shown below: ENERGY STRATEGY Item Est. Cost Annual electric utility bill before energy projects (Yr 2015) $95,000 Savings from PG&E A 6 rate switch (done 6/2015) $7,000 Savings from LED lighting retrofit* (to be done 1/2016) $17,260 Savings from HVAC replacement (38 units)** $8,600 Savings from solar project (to be done March/April 2016) $60,539 Remaining utility bill after all EE projects are paid off $1,601 * Savings first applied to $82,025 OBF loan repayment (zero cost financing over 58 months and cash flow positive ) ** Scheduled replacement of 4 HVAC units per year over next 10 years. All 38 units are over 30 yrs old and beyond useful life. The net result after paying for projects is a near zero electricity bill, freeing up approximately $95,000 per year for direct benefit of Bridge ministries. 2

3 Robust RFP Process For Vendor Selection The Church conducted a formal selection process Hired independent consultant, ARC Alternatives, as Owner s Representative to assist with the RFP and procurement process Released of a formal Request for Proposals (RFP) in October A Solar Interview Team was assembled, including the Solar Project Team and a cross section of Board, Finance Committee and Staff having experience with complex RFP and construction projects The Solar Interview Team and ARC evaluated proposals and interviewed vendors over a day long meeting, leading to unanimous recommendation of SUNworks to install system The Board approved the Solar Interview Team s recommendation and has approved our Solar Team moving forward with vendor contract negotiation and execution SOLAR VENDOR SELECTION 3

4 SUNworks Is Recommended Solar Vendor About SUNworks, Subsidiary Third generation electrical contractor More than $100M in public works contracts completed Installed > 650 systems for > 25MW of solar capacity since 2013 HQ in Roseville, California with offices in Chico, Rancho Cucamonga, and Reno, NV, totaling +/ 200 full time employees About Solar3D, Parent Company U.S. publicly traded company, NASDAQ: SLTD, having market capitalization of +/ $66.5M HQ in Santa Barbara with +/ 120 full time employees Strong balance sheet with $9.3M cash at 3Q2015 per SEC filed financial disclosures 2015 Projected Revenue to double to $40M $45M Go To Solar3D Corporation Information file on Bridge Community for more information SOLAR VENDOR SELECTION 4

System Size and Location Metric Value Size (kwdc) 132 1 st Year

5 System Size and Location Metric Value Size (kwdc) st Year Production 204,700 kwh Offset 75% Yield (annual kwhac/kwdc) 1,547 PROPOSED SYSTEM 5

6 Security System and Camera Locations PROPOSED SYSTEM 6

7 Estimated/Budgeted Total Project Cost Actual costs may be lower, once the design build contract and financing are finalized Contingency is 10% of total hard costs for proposed solar PV system and security camera system Soft costs include energy audits, PV system feasibility studies, solar PV RFP and procurement support, construction oversight, loan fees and lender expenses, construction period interest Item Est. Cost Hard Costs: Solar design and construction contract $425,000 Hard Costs: Security system $27,068 Hard Costs: Contingency (10%) $45,207 SOLAR PROJECT COSTS AND BENEFITS Soft Costs $98,301 Total $595,576 7

8 Net Savings from the Solar Project Financing scenarios below show a range of loan amounts and terms The faster the loan is paid back, the greater the net economic benefit over 25 years SOLAR PROJECT COSTS AND BENEFITS 8

9 PROJECT SCHEDULE 9 Key Dates

10 What We re Asking You To Do On December 6 th Please Vote YES for The Motion The Bridge Church Membership authorizes the Elder Board to secure financing of up to $600,000 for the Solar Project at the Bridge. This liability will be repaid through realized savings from the Bridge s utility costs. A designated fund named The Solar Fund will be established so our congregation members will have the opportunity to pay off the liability earlier. CONGREGATIONAL ASK Please Consider Gifting to The Solar Fund Money raised by year end reduces the loan amount! The faster the loan gets paid off, the more our Bridge ministries will directly benefit! 10

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