The wind turbine article in the Tuesday, Jan. 19 edition is deceiving. It talks of saving a school’s energy costs. Let’s look at what the article says.
The wind turbine cost was at least $2.6 million in bonds plus grants. It will save them (using their averages) about $114,000 annually for electricity. At that rate it takes 22.8 years to pay back the $2.6 million in bonds. This is approximately the useful life of the turbine.
But what about the bond interest, the maintenance and insurance? At a 5 percent interest rate over 20 years, the interest cost alone is $1.5 million.
The school may be saving money but the taxpayer whose money is used to provide the grants and repay the bonds certainly are not.
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