George Town Energy Final Proposal 11-28-11

8/3/2019 George Town Energy Final Proposal 11-28-11

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A Renewable RoadmapPowering Student Life with Solar Energy

Prepared by Georgetown EnergyUpdated 11.28.2011


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Table of Contents

I. Executive Summary!!!!!!!!!!!!!!!!!!!!! 3

II. Partners!!!!!!!!!!!!!!!!!!!!!!!!!!" 4

III. Proposal!!!!!!!!!!!!!!!!!!!!!!!!!! 6

IV. Rationale!!!!!!!!!!!!!!!!!!!!!!!!!" . 10

V. Solar Model!!!!!!!!!!!!!!!!!!!!!!!!" . 11

VI. Frequently Asked Questions!!!!!!!!!!!!!!!!!. 14

#$$% Appendix !!!!!!!!!!!!!!!!!!!!!!!!!" . 16"

#$$$% Addendum#November 2011 !!!!!!!!!!!!!!!!... 28 " "

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I. Executive SummaryThe Georgetown University Student Association (GUSA) is currently exploring ideas on howbest to use a $3.4 million endowment which has accumulated over the past decade through theStudent Activities Fee. GUSA intends to distribute the funds to projects which affect the entirestudent body and have a lasting impact on campus. ""

We believe that 96.6 kW of rooftop solar installations on 43 university-owned townhouses1759:.,);5710)',4'5(6'*57$8),15


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II. PartnersGeorgetown EnergyGeorgetown Energy is a not-for-profit renewable energy action team dedicated to finding

sustainable solutions for the university and greater Washington D.C. community. Since ourfounding in 2009, we have facilitated 5 residential solar projects throughout the community,%$1:9.%$6,*;',4'5(6'*57$,$'%6;=5(;55.8),@%()*,'&'(,)5:0(,>;5*5&5:*0%1,A-BC,(')%.'$*%0:,(55@*5>,installation. We have built and managed relationships with key solar professionals, advocates,and university officials as well as representatives at the local and national level. Recently, ourteam has developed a strategy for installing solar rooftop systems on university-ownedtownhouses. Working with professionals in the solar in.9)*(+?,7'8&',1('0*'.,0,@%$0$1%0::+,0**(01*%&',


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SupportersA wide coalition of faculty, administration officials, distinguished alumni, community figures andstudent leaders have come together in endorsing an exploration of our proposal, as seen below:

Michael Barrette, President, Capitol Hill Solar Cooperative, Washington D.C.Anya Schoolman, President, Mt. Pleasant Solar Cooperative, Washington D.C.Parag Chokshi (SFS '04), Google, Clean Energy Public AffairsDavid Burton (GU Law '96), General Electric Capital, GE Energy Tax Director, FinancialServicesDr. Timothy Beach, STIA Dept, Georgetown University, Cinco Hermanos Chair in Environmentand International AffairsG*'>;'$,35+:',AHIJ,KLMC?,N9)%$')),G+)*'


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III. The ProposalWe propose the installation of rooftop solar panels on 43 Georgetown University-owned

townhouses. Each townhouse would have its own system, representing a total of 96.6 kW. The

entire system would cost $163,399 to install and operate over a 20-year leasing agreement.Solar City optimizes the design of each system according to roof slope, angle, shading, and

structure. The preliminary projections for the size and placement of the systems can be seen

below:

Premium Service PackageSolar City offers its Premium Service Package alongside every installation, which insures the

system against any damage by weather, trees, or students for the 20-year lifetime of the

system. Should a panel drop in efficiency, break after a hailstorm, or be damaged by students,

Solar City personnel would replace the panels and make any necessary repairs.Solar City has also provided a minimum number of kilowatt hours (kWh) that will be produced by

all of the systems. If the systems produce less than that amount because of wind, damage, or

other factors, then Solar City will credit Georgetown University the difference at the price that itpays Solar City. This policy ensures that abnormal weather events or damage to the system will

not reduce the projected amount of energy savings generated by the systems. See below for a

summary of Solar City's service package.


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Total Energy SavingsIn the leasing model, Georgetown University purchases electricity generated by the solar panels

from Solar City, which becomes a partial electricity provider to the school. However, because

Solar City charges less for electricity than Pepco, Georgetown saves money by buying the

solar-generated electricity. The university will save a total of $397,889 over 20 years, with

savings growing from roughly $12,700 in the first year to $29,000 by the final year.

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GUSA Control of FundsGUSA can use these funds to empower students to explore energy issues inside and outside

the classroom through provision of grants, fellowships, scholarships, lecture funding, new

course creation, and other ideas developed by future students. We stress that all students will

have the opportunity to apply to these funds and that they will be implemented for the good ofour community in the spirit of giving back to others.

Included below are four possible ideas involving renewable resources, energy, sustainability,

and science that we see as potential beneficiaries of future funding:Capitol Bikeshare Cost Reduction - Students have fully utilized the bikeshare programintroduced in the fall of 2010. Karen Frank, the vice president of university facilities andstudent housing, noted in November 2010that although no official statistics have yetbeen recorded, the empty bike racks are a positive sign2YG*9.'$*),J'1*9(',5$,G9)*0%$0=%:%*+,%$,N9)%$'))Z,- The funds could support bringing a

world-class professor to teach a semester-long, 1-credit class for students who want toenhance their knowledge of sustainability in business, engineering, biology, technology,or other technical subjectsEnable ambitious students to continue cutting-edge research on ultra-high efficiency andnew solar technologyFunds to bring a high-profile energy conference to Georgetown to aid to students whowish to shift the educational energy center from GW, American, or Catholic University toGeorgetown

Proposed Timeline for Solar Installations

Working group forms: May 2011

Full report submitted to GUSA FinApp committee: July 2011Successful GUSA referendum: Fall 2011Successful student referendum: Fall 2011Check submitted to Solar City: January 2012Final Site Evaluations Completed: January 2012Permitting Process for systems begins: February 2012Approval for Designs from Georgetown Historic Boards, with whom Georgetown Energyand Solar City have worked on successful past proposals: February 2012Construction on systems begin (3-4 days per system): August 2012Construction on systems ends: September 2012

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Proposed Timeline for Endowing and Allocating the FundWorking group, with GUSA, discusses most efficient strategy to oversee the fund:Summer 2011Working group develops agreement with university to transfer funds: Summer 2011Marketing effort begins to publicize the new funding source to students: May 2012

Systems begin functioning fully: September 20121st check is submitted to GUSA via the university utilities department: September 2013Check is submitted annually thereafter: September each year

Proposed Members of Summer Working GroupShould we receive the endorsement of the Commission, we believe that the following peoplewould be vital in creating working group to develop a more detailed proposal for the fall:

1-2 members of the Commission who have experience working with energy officials incampus or who have particular interest in seeing this proposal succeed1-2 members of GUSA FinApp Committee who could advise on the maintenance andallocation of fundsXavier Rivera, the Director of Utilities for Georgetown UniversityMickey Martinez, Resident of Mt. Pleasant and Member of Mt. Pleasant Solar Co-op,Lawyer for Gilbert, LLCPeter Nulsen and Anthony Conyers, Co-heads of Georgetown EnergyTim Grahl, Regional Manager of Sales for the Mid-Atlantic Area, Solar CityH;(%),N(9$'09?,RGSG,K\M?,>0)*,1:%'$*,5@,4'5(6'*57$,P$'(6+ Jessie Robbins, GUSA Secretary of SustainabilityTimothy Beach, Professor, STIA Department

A Shovel Ready ProposalWere we to receive a grant from the endowment fund, the construction process would start withSolar City the next day and would be completed in 4-6 months. No extra space or large-scaleconstruction is required on campus. We are ready to engage appropriate university officials andcontinue to campaign for widespread support. The financial profit of the panels is also690(0$*''.",O),[5+0)?,7'8(',@%'(1':+,>(59.,5@,59(,>0)*],7%*;,*;%),>:0$?,we look to build ourlegacy for the future.


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IV. RationaleThe GUSA Endowment Commission gives 2 specific points of criteria for the allocation of funds.We will show how our proposal can meet and perhaps exceed these goals.""

1. Money spent from the Endowment must go to projects/programs that either affect orare open to the entire student body.""

All university students have the option of applying to live in a townhouse during their careers, soeach student would have a chance to live in a townhouse powered by solar. Solar City offersstate-of-the-art digital monitors for each individual system, so students would be able to see theprogress of the systems at any time on the meters at their homes, or online anywhere in theworld in real time. This fully-integrated education network will change the way students look atenergy consumption, and help them understand the true financial attractiveness of renewableenergy options. The systems would also provide a wonderful case study of residential solarsystems in a university setting, allowing students from a variety of diverse interests from scienceto business to urban development to explore the systems from an academic perspective. Thepossibilities are endless for challenging the minds of the Georgetown community. ""

In addition, 100% of the savings of the systems--$397,889 over 20 years on the original$163,399 investment--would be returned through the jurisdiction of GUSA, allowing all studentsto access the funds through a variety of proposals deemed appropriate by GUSA. The StudentActivities Fee was designed to create a consistent pool of funding for student-led efforts thatenhance the college experience for the student body, and solar installations are a vehicle forachieving this objective.""

2. Money spent from the Endowment must go to projects that will have a lasting impact. ""

The solar systems are insured for a 20-+'0(,*'(


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V. The Solar ModelG5:0(,':'1*(%1%*+,6'$'(0*%5$,9)'),0,>(51')),10::'.,*;',Y>;5*5&5:*0%1,'@@'1*?Z,*;(596;,7;%1;,sunshine excites electrons in the solar panels, creating a direct current (DC). This current is runthrough an inverter that changes the DC to the alternating current (AC) that provides mosthousehold power. ""

Below is a diagram showing how the sun can power a typical university-owned townhouse:"

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Explanation of Solar Leasing Model""

Solar installers offer several options for purchasing a residential PV system. We have focusedon the most financially efficient model offered in Washington D.C.: the solar leasing model.Under this contract, Georgetown pays for the installation of the system and then buys electricitythat the panels produce at a steely reduced price. The result is high-yield savings year after

year for the life of the contract, with the option to buy the systems at the end of the 20-yearagreement. Solar City offers to install the system for only 30% of its true cost, assuming allliability and including full insurance coverage for student damage, theft, or weather. ""

The following the 43 townhouses where solar is viable with in a financial scenario with andwithout panels. Without solar, the townhouse would obtain all its electricity from Pepco utilityprovider at 12.89 cents/kWh. With solar, *;',)+)*'(5.91',WV`,5@,*;',;59)'8),electricity needs, so the total electricity savings would be 20% of what the university wasoriginally paying Pepco, minus the initial cost:"

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The university would then distribute these electricity savings to GUSA via a revenue-sharingmechanism. Below, we explain in detail the complete flow of money for one townhouse,including the roles of student payment, Georgetown University, PEPCO, and GUSA:

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Total Projected Savings:

The year to year savings are shown below. The systems will pay for themselves in 10 years,earning $234,489 in net savings, and $387,889 in total savings:

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Extended Financial Analysis:

We also include below the NPV of both the total savings and total investment (at a 6% discountrate) and the IRR:

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VI. Frequently Asked QuestionsQ: $163,399 covers the initial cost for 43 townhouses. Can this amount be scaled up and down?What happens to the savings?""

A: With the click of a button, our partners at Solar City can scale the proposal up or down by anyspecified amount. More initial funds would mean higher savings over time, whereas fewer initialfunds would mean fewer installations on townhouses. Solar can be installed on a singletownhouse for roughly $10,000. The savings can scaled in an approximately linearly fashioneither upwards or downwards.""

Q: If these are being installed on university-owned buildings, should&'(#(+,#6&/=,.7/(>#53>#?%.#/(@#A%,7&'(#(+,#6&/=,.7/(>#3$$.,77#3$$/(/%&3-#7%-3.#(+.%60+#(+,#BCDC -2020 Campus Plan?""

A: Because 100% of the system savings are being directed back to students, we believe that itis appropriate to use funds built up from the Student Activities Fee to pay for this proposal. Theuniversity does not develop any concrete plans for solar or any other on-campus renewableenergy generation or installation. The plan mentions the current ICC panel array in the sectionYU"W"a,J'0.,%$,F(0$)>5(*0*%5$,G5:9*%5$),0$.,G9)*0%$0=:',3')%6$"Z ""

Q: Other proposals have been submitted to the GUSA Endowment Commission that include thecreation of a fund to support student initiatives. Why is this proposal different?""

A: The energy savings are guaranteed for 20 years by Solar City through their Preferred ServicePackage, which ensures the delivery of the funds to the university. Our fund is particularlyrobust in that it ties concrete change into the energy profile of Georgetown, environmental andsustainability initiatives and the interests of Georgetown University to continuously improve thequality of life of students as savings increase. Ultimately, it is a sustainable and tangible

investment in accordance with our values. It is much more than just the creating of the fund.""Q: There are many buildings on Georgetown's campus that have lots of roof space suitable forsolar. Why does this proposal focus on townhouse installations?""

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organization will need to exist through 2013 in order to ensure that the savings are transferredfrom the university to GUSA. What underclassmen could lead the organization going forward?""

A: Georgetown Energy has a freshman (Evan Giangrande) and six sophomores (MicheleJaeger, Colin Doyle, Harrison Gale, Caroline Palmer, Chirei Chang, Samantha Apgar) that willbe leading the organization in the fall of 2012 and spring of 2013, and they have the utmost trust

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Q: Are the townhouses charged residential rates (Schedule R)? Will they continue to be, after

they install the panels? Does Pepco need to be consulted to install net meters, in the event that

a household would produce more energy than it generates?

A: Yes, they are charged residential rates. Pepco is required to install a net meter on a

townhouse with solar, so, as you say, the meter can spin backwards if necessary. In the past,

Pepco dragged their feet--because with solar, they are essentially losing business. The D.C.

govt began to solve the problem in 2009 when they gave Pepco an annual amount to pay for

the net meters, and did the same in 2010 (you can read the press releases here:$34 million in

2010, and$44 million in 2009). The net meters also help Pepco better gauge resident energy

usage, so it's an overall plus for them.

Q: If the input into the system is large, the utility may be entitled to buy it back at a lower rate, or

may require protection against back feeding the system causing damage to equipment or

employees (such as after a storm). Do,7#1,%.0,(%*I&/=,.7/(>#+3=,#(%#!.,0/7(,.7(,4#

with Pepco, and also be able to negotiate the sale of excess electricity back to Pepco?

A: In terms of Pepco buying back the electricity, it rarely happens that the solar produced would

exceed the total energy demand for a given period of time. If it does happen, because the

system is leased, Solar City, not the university, would have the burden of trying to sell the

energy to Pepco. What they do is sell the SRECs (solar renewable energy credits) to Pepco as

the electricity is produced, regardless if it goes back on the grid. The bottom line is that Solar

City assumes responsibility for trying to sell a net generation of electricity; through a lease

agreement, Georgetown utilities don't have rights to those credits, so they can't sell them.

Q: Are the panels really expected to work for at least 20 years? How are 20-year-old panels

performing now? Who has to remove them when they reach the end of their service life?

A: The lease agreement guarantees the life of the panels and production of the systems for 20

years. Most the systems we've seen are projected to last about 25 years. As to how 20-year-old

panels are producing now, we wish that we could point to a 20-year-old system with similar

specs. Unfortunately, the technology used in 1990 is different for two reasons: first, net meters

were not widely used; and two, microinverters had not yet been invented (which are attached to

each panel, and work more efficiently than a single inverter for the whole system). Solar City is

asking us to take a leap of faith: that they will be around for 20 years to honor their contract. We

believe that Solar City is the best positioned residential-installer in the world because of the

recognition of their work (read about ithere), their position as the #1 installer in the U.S. (read

morehere), and secure sources of funding ($40 million from Citigroup, which you can read moreabouthere).VII. Appendix

On the following pages, we include an endorsement letter from Solar City verifying both thestrength of our partnership and the mission of our proposal, as well as the full installationsummary.
http://www.pepco.com/welcome/news/releases/archives/2010/article.aspx?cid=1545http://www.pepco.com/welcome/news/releases/archives/2010/article.aspx?cid=1545http://www.pepco.com/welcome/news/releases/archives/2010/article.aspx?cid=1545http://www.pepco.com/welcome/news/releases/archives/2010/article.aspx?cid=1545http://www.pepco.com/welcome/news/releases/archives/2009/article.aspx?cid=1309http://www.pepco.com/welcome/news/releases/archives/2009/article.aspx?cid=1309http://www.pepco.com/welcome/news/releases/archives/2009/article.aspx?cid=1309http://www.solarcity.com/media-center/awards.aspxhttp://www.solarcity.com/media-center/awards.aspxhttp://www.solarcity.com/media-center/awards.aspxhttp://www.solarcity.com/residential/why-solarcity.aspxhttp://www.solarcity.com/residential/why-solarcity.aspxhttp://www.solarcity.com/residential/why-solarcity.aspxhttp://www.solarcity.com/pressreleases/81/SolarCity-and-Citi-Announce-New-Fund-for-Residential-Solar-Projects.aspxhttp://www.solarcity.com/pressreleases/81/SolarCity-and-Citi-Announce-New-Fund-for-Residential-Solar-Projects.aspxhttp://www.solarcity.com/pressreleases/81/SolarCity-and-Citi-Announce-New-Fund-for-Residential-Solar-Projects.aspxhttp://www.pepco.com/welcome/news/releases/archives/2009/article.aspx?cid=1309http://www.pepco.com/welcome/news/releases/archives/2010/article.aspx?cid=1545http://www.pepco.com/welcome/news/releases/archives/2010/article.aspx?cid=1545http://www.solarcity.com/pressreleases/81/SolarCity-and-Citi-Announce-New-Fund-for-Residential-Solar-Projects.aspxhttp://www.solarcity.com/residential/why-solarcity.aspxhttp://www.solarcity.com/media-center/awards.aspx


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SolarCity2319 Stewart Ave.

Silver Spring, MD 20912

April 4, 2011

To the Commission Overseeing the Student Activities Fee Endowment,

As a representative of Solar City, I would like to express our interest

regarding the potential for the installation of rooftop solar PV systems ontownhouses owned by Georgetown University.

Solar City is a renewable energy company specializing in both solar panel

installation and project monitoring. Over the years, we have completed a

diverse array of solar energy projects - from single family homes and

townhouses to large-scale commercial projects, including installations at

other universities in DC. We also recently expanded our installation

portfolio to include solar systems on Georgetowns unique, historic roofs.

For nearly a year and a half we have had a strong relationship withGeorgetown Energy. Throughout this period we have been thoroughly

impressed with their commitment, knowledge, and professionalism, as well

there enthusiasm for bringing renewable energy to the Georgetown area.

Their support has been instrumental in successfully completing the projects

on which we have worked.

We have been working with Georgetown Energy for the last several weeks

on developing this proposal, and we can attest to the legitimacy of the

models, as well as the credibility of our service. The numbers included inthe proposal are the result of numerous housing audits which have been used

to create installation scenario for each house, subject to assumptions that

may change as engineers conduct more detailed inspections.


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Were happy to offer a leasing option for the proposed project, which carries

three major benefits. First, it minimizes the up-front cost of solar. Second,

it provides Georgetown the opportunity to purchase the energy being

produced by the system at a flat rate far below current utility prices for the

next twenty years. Finally, it carries with it a warranty package that insures

for theft, damage and any repairs.

We have drawn up the proposals for Georgetown Energy and hope your

commission can provide the economic support needed to move forward this

opportunity for a solar lease.

We look forward to working with you on this exciting opportunity,

Sincerely,

Tim Grahl

Solar City Regional Sales Manager

301-328-8811

[email protected]


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Accolades for SolarCity There is no higher compliment than to be honored for the work that we love to do every day!

Welcome to SolarCity

About SolarCity

Full Service. SolarCity takes care of every step

including design, financing, installation, ongoing

monitoring and customer support.

Experience. SolarCity is the #1 residential solar

company in the nation. On an average day over

300 SolarCity employees install 825 panels to help20 new families go solar.

Custom Design and Installation. Our in-house

engineering team will design a solar system to

meet your energy needs and architectural style.

Energy Efficiency. We evaluate your energy need

holistically and implement efficiency remodeling

projects to lower your overall energy bills.

Direct Financing. Financing directly with SolarCit

lowers the price and makes it easy for you to

have a single point of contact and accountability.

Customer Service. We provide the highestquality experience from beginning to end. Over

30% of our new business comes from satisfied

customer referrals.


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Solar System DesignUniversity Residence

SYSTEM DESIGN & PRODUCTION

Solar Production vs. Home Electricity Consumption

Proposed System Size 96.60 kW DC

Annual Production 98,577 kWh

UTILITY SAVINGS

Solar

Old Bill $4,773

New Bill $3,713

Savings First Month $1,060

Savings First Year $12,716

Electric Bill Offset 22 %

Prepared for Georgetown University(PV-LEASE-96.600-$163,399 ~ [Untitled])3700 O St., N.W., Georgetown Univ, DC 20057952-356-5591 | [email protected]

Prepared by Timothy Grahl, Energy Consultant881-1Pricing Valid Until April 12, 2011

* Please note this proposal is an estimate and does not guarantee actual system production or savings. The system design may change based on a detailed engineering siteaudit. Actual system production and savings will vary based on the final system size, design, configuration, utility rates, applicable rebates and your familys energy usage. Copyright 2011 SolarCity Corporation. All rights reserved. AZ ROC #243771, CA CSLB #888104, CO #EC-8041, OR CCB #180498, TX TDLR 27006


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Solar System Proposal96.60 kW DC

SolarLease

Pre Pay Plan

Initial Solar Payment $163,399

Monthly Payment

Annual Increase

Over 20 Years:

Average Cost 8.7/kWh

Total Savings $234,489

Premium Service Package

Purchase

You Own the System

Net Cost $294,989

Monthly Payment

Annual Increase

Over 30 Years:

Average Cost 10.7/kWh

Total Savings $433,912

Standard Service Package

SERVICE PACKAGE Premium Standard

Home Efficiency Package. Home energy evaluation and selectefficiency upgrades.

Optional Optional

SolarGuard Monitoring. We continuously monitor your systemand will respond if performance declines.

20 years 5 years

Extended Warranty & Repair Service We take care ofany repair, such as inverter replacement.

20 years 10 years

Insurance Coverage. Our all-inclusive system coverage protectsagainst damage or theft.

Included --

Performance Guarantee. We guarantee your system will producethe electricity we promised or we will pay you back!

Included --

Electricity Cost Without Sola

Over 20 years $1,893,886

Over 30 years $3,805,351

Current Cost 12.9/kWh

30 Yr. Avg. Cost 28.6/kWh





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SolarLease Pre Pay Plan

SOLARLEASE

Save Money Every Month

Included Products & Services

! Full service system design, installation, project management,rebate administration

! SolarGuard Monitoring Service for 20 years!

Extended Warranty & Repair Service for 20 years! Performance Guarantee

Initial Payment $163,399

Monthly Payment $0

New Lower Electric Bill $3,713

Net Monthly Savings $1,060

FINANCIAL BENEFITS

Savings Grow Every Year as Electricity RatesIncrease

Savings First Month $1,060

Savings First Year $12,716

Savings Over 20 Years $234,489

Return on Investment(IRR Post-Tax)

9 %

Payback 11 years





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Purchase Summary

SYSTEM COST

Government Rebates Substantially Lower Costs

Included Products & Services

!

Full service system design, installation, project management,rebate administration! 420 Yingli Green Energy Panels

! SolarGuard Monitoring Service for 5 years

! Standard Warranty & Repair Service

System Cost $533,038

Out Of Pocket Payment $533,038

Federal Tax Credit $159,911

SRECs $121,995

Federal Tax on Incentives $33,488

State Tax on Incentives $10,370

Final System Cost $294,989

FINANCIAL BENEFITS

Savings Grow Every Year as Electricity Rates

Increase

Savings Over 30 Years $433,912

Return on Investment(IRR Post-Tax)

5 %

Payback 17 Years

Cost of Solar Power(30 Year Life Time)

$0.107 per kWh

Cost of Electricity(30 Years without Solar)

$0.286 per kWh





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Environmental Benefits

Solar power systems produce clean, pure energyfrom the sun. When you install solar, you helpfight global warming and reduce our collective

dependence on fossil fuel.

4,499,358 lbs of CO2

a leading cause of global climate change

7,872 lbs of NOx

a leading cause of smog

27,250 lbs of SO2

a leading cause of acid rain

702 lbs of particulates

a leading cause of asthma

Over the next 20 years, your system will save theequivalent of:

Driving a Car4,911,963 Miles

CO2 Absorbedby 2,144 Trees

788,614 Gallonsof Water Used toMake Electricity





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ANNUAL CASH FLOW

SolarLease Pre Pay Plan Cash Flow

YearElectric Bill

Without SolarElectric BillWith Solar

Savings onElectric Bill

Initial Payment Annual Payments SREC IncomeOverallSavings

CumulativeCash Flow

0 ($163,399) ($163,399) ($163,399)

1 $57,276 ($44,560) $12,716 $12,716 ($150,683)

2 $60,140 ($46,854) $13,285 $13,285 ($137,397)

3 $63,147 ($49,267) $13,880 $13,880 ($123,517)

4 $66,304 ($51,803) $14,501 $14,501 ($109,016)

5 $69,619 ($54,469) $15,150 $15,150 ($93,866)

6 $73,100 ($57,272) $15,828 $15,828 ($78,038)

7 $76,755 ($60,219) $16,536 $16,536 ($61,502)

8 $80,593 ($63,317) $17,276 $17,276 ($44,226)

9 $84,623 ($66,573) $18,049 $18,049 ($26,176)

10 $88,854 ($69,997) $18,857 $18,857 ($7,319)

11 $93,297 ($73,596) $19,701 $19,701 $12,382

12 $97,961 ($77,379) $20,583 $20,583 $32,965

13 $102,859 ($81,356) $21,504 $21,504 $54,468

14 $108,002 ($85,536) $22,466 $22,466 $76,934

15 $113,403 ($89,931) $23,471 $23,471 $100,406

16 $119,073 ($94,551) $24,522 $24,522 $124,92717 $125,026 ($99,407) $25,619 $25,619 $150,546

18 $131,278 ($104,512) $26,765 $26,765 $177,312

19 $137,842 ($109,878) $27,963 $27,963 $205,275

20 $144,734 ($115,519) $29,215 $29,215 $234,489

20-yearSum

$1,893,886 ($1,495,997) $397,889 ($163,399) $234,489





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Assumptions

Financial Assumptions - Lease

Financial Assumptions - Purchase

Lease Terms

Incentives SREC Upfront for Financed Systems at $1.050/DC Watt

Electric Rate Increase 5.0 %

Federal Income Tax Rate 30.0 %

State Income Tax Rate 8.5 %

Electric Rate Increase 5.0 %

Term 20 years

Annual Payment Increase Pre Pay Plan: 0 %

End of Term Options Choice to renew, upgrade or free removal

Site Assumptions

Utility Assumptions

System Size AC 82.87 kW

System Location Georgetown Townhome Roofs

Roof Material Single Ply Membrane (PVC, TPO, Hypalon, E

Shading (% Sun) 88 %

Direction 180

Slope 0

Utility Company for Electricity PEPCO (DC)

Average Monthly Electric Bil l $4,773

Annual Electricity Usage 444,000 kWh

Monthly Electricty Usage 37,000 kWh

Current Electric Rate Plan Generic $.129/kWh -

New Electric Rate Plan Generic $.129/kWh -



* Please note this proposal is an estimate and does not guarantee actual system production or savings. The system design may change based on a detailed engineering site

audit. Actual system production and savings will vary based on the final system size, design, configuration, utility rates, applicable rebates and your familys energy usage. Copyright 2011 SolarCity Corporation. All rights reserved. AZ ROC #243771, CA CSLB #888104, CO #EC-8041, OR CCB #180498, TX TDLR 27006


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VIII. Addendum!November 2011Addendum: Green Revolving Loan Fund to Fully Implement Solar Installation

The initial solar proposal that was developed through coordination with the SAFEReform Endowment committee, Georgetown Energy and the administration called for theinstallation of photovoltaic solar panels on the roofs of 43 Georgetown University-ownedtownhouses. Over the course of a 20-year lease, the panels would generate cost savings of$397,889, savings which would be returned to students. In the past week it has become clearthat the administration is unable to move forward with the immediate installation of panels on all43 townhouses, as the roofs on which the panels would be installed will require additionalinvestment that the administration stands unprepared to make at this moment. The vision andthe support for this groundbreaking venture has not wavered however, and this small logisticalhurdle does not affect the overall vision for making sustainability a profitable and excitingopportunity for the students of Georgetown University.

The administration is committed to installing solar panels on as many houses aspossible, with roofing concerns being the only limiting factor. It is unlikely that the installation of

panels on 43 townhouses is going to be possible up front, but the administration supports thenotion of installing solar panels on subsequent townhouses as soon as the roofs receive therequired upgrades. To realize this possibility and stay true to our initial proposal of installingsolar on 43 townhouses, we are proposing the creation of a Green Revolving Loan Fund thatwould house the funds initially allocated for this project but not spent in the first phase of solarinstallations in May 2012. This fund would allow students to continue to capture the savings ofgreen energy projects for years to come, with this fund serving as a vehicle to pursue the furtherinstallation of solar panels on University townhouses or the most financially appropriate greentechnology projects available at the time. For this reason we propose the creation of a GreenRevolving Loan Fund, examples of which can be found at a variety of Universities across theworld.

For the sake of bureaucratic efficiency and proper administrative oversight we have

coordinated with the SIPS initiative to incorporate a distinct program area, with an autonomousaccount, into their larger portfolio. This specific account within SIPS would be capable ofsupporting the further installation of townhouse-based photovoltaic projects and other financiallysustainable green technology ventures. By partnering with SIPS to house this fund we ensurestudent involvement, GUSA involvement and the oversight of Georgetown administrators.

The mission of the GRLF aligns with the mission of the SIPS Fund, in that the programwill empower Georgetown University students and alumni to be men and women for others byimplementing financially sustainable and environmentally responsible projects in theWashington D.C. community. Furthermore, this joint buy-in allows projects to more easilynavigate the complex array of stakeholders involved in any future projects. We are confidentthat housing the Green Revolving Loan Fund program within the structure of the SIPS Fund isthe best way for students to realize the maximum savings from their investments. Most

importantly, it ensures that a focus on environmentally and financially sustainable projectsremains on Geo!"#$%&'()*+,-./)*0%!*"#'#!,$1%')*$%*+%-#2

!

Documents

George Town Energy Final Proposal 11-28-11