Solar Carport Leasing To Pay Brick Schools More Than $200K Per Year

BRICK, NJ — The Brick Township Board of Education approved the signing of a contract that will bring in more than $200,000 per year to the district through leasing solar panel carports at the district's facilities.

The agreement with HESP Solar, based in New York State, is for 15 years for the district to host the solar panels that will be placed at parking lots across the district.

HESP will pay the district $18,000 per megawatt generated by the panels, with the payment estimated at $216,780.30 for the first year, according to the board resolution approving the lease agreement.

That amount is set to increase 3 percent each year over the length of the lease agreement.

James Edwards, the business administrator for the Brick Township Schools, said the lease agreement is the first of its kind involving a school district.

HESP installs the solar panel carports and it sells the electricity generated to the grid through Jersey Central Power & Light, Edwards said.

It also is a steady revenue stream because the lease payment is not dependent on how much energy HESP sells, he said.

"We have been told in the past find alternative sources of revenue," Edwards said. "This is an alternative revenue source."