Santa Fe Community College has just unveiled a solar array that, it says, will save the college at least $200,000 a year on its utility bills.
But the array, funded by taxpayers in a 2010 bond election, will cost $5 million.
You don’t have to be a math major at the college to figure out it would take 25 years of $200,000 cost savings per year to reach the $5 million mark for the project to just break even.
So is the solar array a good deal?
SFCC interim president Randy Grissom thinks so.
First off, Grissom told New Mexico Watchdog the college expects to save more than $200,000 a year on utility bills.